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Tokyo Stocks Rally on U.S. Market Momentum
(MENAFN) Tokyo equities climbed sharply Thursday, following a strong rebound in U.S. markets overnight. The benchmark Nikkei Stock Average, covering 225 issues, closed up 671.41 points, or 1.34 percent, at 50,883.68.
Analysts said the rebound was also fueled by bargain-hunting after steep declines in recent sessions, with short-term investors actively snapping up major blue-chip stocks.
At one stage, the Nikkei surged more than 1,000 points, driven by gains in high-priced shares and futures, though the pace eased later in the trading day.
Among the top performers, Advantest, Disco, and Lasertec played a leading role in lifting the market.
The broader TOPIX index also bounced back for the first time in three sessions, ending 45.16 points higher, or 1.38 percent, at 3,313.45.
On the Tokyo Stock Exchange’s Prime Market, 987 stocks advanced, 570 declined, and 58 remained unchanged.
Analysts said the rebound was also fueled by bargain-hunting after steep declines in recent sessions, with short-term investors actively snapping up major blue-chip stocks.
At one stage, the Nikkei surged more than 1,000 points, driven by gains in high-priced shares and futures, though the pace eased later in the trading day.
Among the top performers, Advantest, Disco, and Lasertec played a leading role in lifting the market.
The broader TOPIX index also bounced back for the first time in three sessions, ending 45.16 points higher, or 1.38 percent, at 3,313.45.
On the Tokyo Stock Exchange’s Prime Market, 987 stocks advanced, 570 declined, and 58 remained unchanged.
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