TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average closed at 38,460.08 yen, up 907.92 yen from the previous trading day, increasing significantly for the third day in a row. The previous day’s rise in U.S. high-tech stocks was positive, and buybacks were made in semiconductor stocks and other stocks that had a large contribution, pushing up the index.
In the market, one domestic securities strategist said, “Semiconductor stocks have continued to adjust due to high U.S. interest rates, so buybacks will be the focus today.”
In addition to buying based on individual factors such as financial results, automobile stocks and machinery stocks were also strong.
The Nikkei Stock Average has recovered to the 38,000 yen level for the first time in four business days, but some are pointing out that selling pressure to take profits may increase as it approaches 39,000 yen. Hiroshi Namioka, chief strategist and fund manager at T&D Asset Management, said, “There was a fair amount of trading volume between 38,000 and 39,000 yen, so it’s likely that there will be some selling while waiting for a return.” With corporate earnings season coming up, the market is likely to remain in a range for the foreseeable future.
TOPIX closed 1.67% higher at 2,710.73 points. The Prime Market Index rose 1.67% to 1,395.22 points. The trading value on the TSE prime market was 4,551,383 million yen. Prices rose in 29 of the 33 industries on the TSE, including precision equipment, electrical equipment, and transportation equipment. Prices fell in four industries, including electricity/gas, land transportation, and pulp/paper.
In the prime market, 1,195 stocks (72%) rose in price, 402 stocks (24%) fell, and 55 stocks (3%) remained unchanged.
Our Code of Conduct: Thomson Reuters “Principles of Trust” New Tab opens new tab
Tags: Nikkei average rises #3rd day higher yen buybacks hightech stocks Reuters
-
