gathers

Benchmark Nikkei 225 tops 68,000 for first time as AI-driven buying frenzy shows no signs of slowing down.

Japan’s stock market has hit an all-time high as a global buying frenzy driven by AI shows no signs of slowing down.

The Nikkei 225 rose nearly 3 percent on Wednesday, lifting the benchmark index above 68,000 for the first time.

The latest surge continues a banner year for Japan’s stock market, which is up nearly 33 percent so far in 2026.

“Investor enthusiasm over the AI boom is helping drive Asian equity markets higher,” Khoon Goh, head of Asia research at ANZ, told Al Jazeera.

“While strong demand for high-end chips has seen the top semiconductor companies in Taiwan and South Korea rally strongly, this is also benefiting Japanese markets, which are also getting some tailwind from a weak yen.”

Japanese firms involved in the semiconductor business led the gains.

Tokyo Electron, Japan’s largest manufacturer of semiconductor equipment, soared as much as 14 percent in morning trading.

Advantest, which supplies testing equipment to the semiconductor industry, rose more than 5.5 percent.

Shin-Etsu Chemical, a supplier of silicon wafers used in integrated circuits, gained about 4 percent.

Softbank, which is heavily invested in AI models, chips and data centers, fell about 3 percent, after overtaking auto giant Toyota on Monday to become Japan’s biggest company by market capitalisation.

Ferocious demand for AI chips has been driving record-breaking rallies in stock markets across the globe, taking key indexes in the US, Japan, South Korea, Taiwan to record highs.

During the past month, three memory chip makers – South Korea’s SK Hynix and Samsung Electronics, and US-based Micron – entered the elite club of firms with a market capitalistion of at least $1 trillion.

Only 17 companies have hit the milestone, all but five of which are based in the United States.

Despite concerns about the sustainability of the sky-high valuations in the sector among some investors, tech companies are continuing to commit huge sums to AI-related infrastructure.

US tech giants are expected to spend about $800bn on AI-related capital investment in 2026, according to Goldman Sachs.

Google parent company Alphabet on Monday became the latest Silicon Valley giant to outline its AI-related investment plans, announcing that it would sell $80bn worth of shares to help fund expected capital expenditures of $180-190bn in 2026.

Mogadishu, Somalia- Muslims around the world celebrated Eid al-Adha, the Festival of Sacrifice, which marks the end of the Hajj pilgrimage period.

It is the second major holiday in the Islamic calendar after Eid al-Fitr, which follows the holy month of Ramadan.

In Somalia’s capital, Mogadishu, families and communities gathered across the city on Wednesday to celebrate the occasion.

The holiday is typically marked by communal prayers in the morning, family visits, festive meals and outings for children.

Popular locations for the city’s residents include Lido Beach, the Darus Salam Zoo, and Maka al-Mukarama Road, the central business district.

More broadly, Mogadishu has been tentatively emerging from the waves of violence that have rocked the city over recent decades.

Since 2006, the government has been battling al-Shabab, a local affiliate of al-Qaeda, for control of the country – a conflict that has made Mogadishu one of the world’s most dangerous capitals.

But improving security has led to a surge of investment in the city, alongside the emergence of new cafes, restaurants and other recreational spaces.

At an Eid speech at the Islamic Solidarity Mosque, Somalia’s President Hassan Sheikh Mohamud said, “We see the change that has happened in Mogadishu’s security,” and called on the public to protect the city’s peace. Ali Jimale Mosque, the country’s largest, usually draws the biggest crowds and serves as a gathering place for the city’s residents.

Central to Eid al-Adha is the ritual sacrifice of livestock, commemorating the Prophet Ibrahim’s willingness to sacrifice his son before God provided a ram in his place.

The meat is traditionally shared among relatives, neighbours and people in need, reflecting the festival’s emphasis on charity, community and devotion.

Costs for livestock have soared in recent months in Somalia due to failed rains and drought, with a United Nations hunger monitor warning of famine risk in parts of the country.

The Integrated Food Security Phase Classification has said 6.5 million people in Somalia are facing “high levels of acute food insecurity”, a crisis worsened by the country’s ongoing armed fighting and a political standoff that has persisted since the president’s term expired on May 15.