(MENAFN) The Nikkei index in Japan concluded Thursday's trading session on a positive note, registering an uptick after heavyweight chip-related stocks managed to recover from early losses, coupled with a notable increase in energy company shares. Closing up by 0.29 percent at 38,807.38 points, the Nikkei saw a rebound following three consecutive sessions of declines. Earlier in the session, the index had experienced a dip of as much as 0.76 percent before staging a recovery.
Meanwhile, the broader Topix index also witnessed gains, rising by 0.49 percent to reach 2,661.59 points. Notably, utility company shares emerged as the top performers among the 33 sector sub-indices listed on the Tokyo Stock Exchange. This surge was predominantly driven by Tokyo Electric Power Holdings, with its shares soaring by 6.76 percent. Ineos Holdings also saw an uptick in its shares, rising by 5.32 percent.
In the automotive sector, Nissan Motor experienced a notable increase of 2.23 percent following reports from local television network TV Tokyo suggesting the automaker's contemplation of a potential partnership with Honda Motor. Honda's shares concurrently rose by 1.13 percent. Furthermore, Fast Retailing, the parent company of the renowned Uniqlo clothing brand, contributed significantly to the Nikkei index's performance, witnessing a 1.62 percent increase.
Among the 225 components constituting the Nikkei index, a majority of 174 stocks observed gains, while 51 stocks faced declines. This mixed performance reflects the nuanced dynamics within the Japanese stock market, with certain sectors demonstrating resilience and others experiencing fluctuations amidst evolving market conditions.
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