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Tokyo Stock Market Climbs on Semiconductor Rally
(MENAFN) Tokyo’s stock market extended its upward momentum on Wednesday, propelled by robust demand for semiconductor-related shares following strong performances in U.S. chip stocks overnight.
The Nikkei 225, Japan’s key stock index tracking 225 companies, closed at 38,421.19, gaining 209.68 points or 0.55 percent from the previous session.
A nearly 2 percent jump in the Philadelphia Semiconductor Index (SOX) in the U.S. sparked renewed enthusiasm for Japanese semiconductor giants like Tokyo Electron, fueling the Nikkei’s advance.
Meanwhile, the Japanese yen slipped to around 145 yen per dollar, providing a tailwind for export-driven sectors such as the automotive industry.
The Nikkei briefly climbed more than 300 points during the session but encountered resistance as investors booked profits and cautious traders limited further upside.
The broader TOPIX index also extended its winning streak to four consecutive days, finishing up 2.48 points or 0.09 percent at 2,788.72.
On the Tokyo Stock Exchange Prime Market, advancing stocks outnumbered decliners 1,139 to 426, with 64 remaining unchanged.
The Nikkei 225, Japan’s key stock index tracking 225 companies, closed at 38,421.19, gaining 209.68 points or 0.55 percent from the previous session.
A nearly 2 percent jump in the Philadelphia Semiconductor Index (SOX) in the U.S. sparked renewed enthusiasm for Japanese semiconductor giants like Tokyo Electron, fueling the Nikkei’s advance.
Meanwhile, the Japanese yen slipped to around 145 yen per dollar, providing a tailwind for export-driven sectors such as the automotive industry.
The Nikkei briefly climbed more than 300 points during the session but encountered resistance as investors booked profits and cautious traders limited further upside.
The broader TOPIX index also extended its winning streak to four consecutive days, finishing up 2.48 points or 0.09 percent at 2,788.72.
On the Tokyo Stock Exchange Prime Market, advancing stocks outnumbered decliners 1,139 to 426, with 64 remaining unchanged.
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