Tokyo stocks rise on SpaceX earnings, but gains capped ahead of Tesla, Meta results

Tokyo stocks rose Wednesday after SpaceX reported strong earnings, with the Nikkei index closing up 0.85 percent at 64,621.24 and the Topix gaining 0.86 percent to 4,043.73. The gains were driven by buying in AI and semiconductor shares following SpaceX's first quarterly profit since going public, boosted by its artificial intelligence business. Nonferrous metal, bank, and insurance issues led the advance, while the dollar traded in the lower 158 yen range. Gains were limited ahead of earnings reports from Tesla and Meta due Thursday, with investors cautious about lingering growth concerns in AI-related businesses. A decline in Japanese government bond yields and lower crude oil futures also provided some support.