Tokyo Stocks Rally on U.S. Tech Surge
(MENAFN) Tokyo’s stock market extended its gains Wednesday, propelled by strong performances in U.S. technology stocks and robust investor interest in semiconductor companies including Tokyo Electron, Advantest, and Lasertec.
The Nikkei 225 index closed at 38,942.07, climbing 151.51 points or 0.39 percent compared to the previous session.
Investor confidence was lifted by easing tensions in the Middle East alongside a drop in U.S. long-term interest rates, fueling hopes for a Federal Reserve rate reduction.
Despite some profit-taking as the Nikkei approached the key 39,000 level, overall market momentum stayed solid.
The broader TOPIX index also edged higher, finishing up 0.03 percent at 2,782.24.
On the Tokyo Stock Exchange Prime Market, 738 stocks advanced, 820 declined, and 69 remained unchanged.
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