Japan’s Nikkei Stock Average Rise Lifted by AI Stocks, Easing Concern on Oil Supply

Reuters

12:46 JST, March 11, 2026

TOKYO, March 11 (Reuters) – Japanese shares extended their rally for a second straight session on Wednesday, as investors bought beaten-down stocks, and worries about oil supplies stemming from the Middle East conflict eased.

The Nikkei .N225 jumped 2.3% to 55,512.21 as of 0220 GMT, while the broader Topix .TOPX climbed 1.8% to 3,731.36.

“More investors are buying on dips, particularly in the most heavily sold-off areas where rebounds are emerging, and price action has been strong,” said Naoki Fujiwara, senior fund manager at Shinkin Asset Management.

Artificial intelligence-related shares, which took a particularly hard hit on Monday amid pessimism over the U.S.-Israeli war against Iran, were among the best performers in the Nikkei benchmark gauge.

Chemical and advanced-materials firm Resonac 4004.T shares vaulted 11.3%, the index’s biggest percentage gainer, while tech investment conglomerate SoftBank Group 9984.T shares advanced 7.8% after surging as much as 9.2%. Cable and optical fiber maker Fujikura 5803.T also gained 6.4%.

There were 195 advancers on the Nikkei index against 30 decliners.

The oil market also remains in focus after sharp swings, with investors looking for guidance on the direction of equities.

The Wall Street Journal reported the International Energy Agency has proposed the largest release of oil reserves in its history to bring down crude prices. Energy ministers from the Group of Seven nations on Tuesday confirmed readiness to take necessary steps to support global energy supplies.

Oil prices were choppy in early Wednesday trade. Brent futures LCOc1 traded up 23 cents, or 0.26% higher, at $88.03 a barrel at 0156 GMT.

If crude continues to settle at around current levels, then equities are probably a buying opportunity, Fujiwara said.

“But if oil climbs back above $100, stocks will likely come under pressure again, and the (equities) market will have to go back to searching for a bottom,” he said.