Tokyo stocks rise on Advantest gains
TOKYO (Kyodo) -- Tokyo stocks rose Thursday, buoyed by advances in heavyweight technology share Advantest after an upward revision to its earnings for
Tokyo stocks experienced a rise on Thursday, driven by gains in heavyweight technology shares, particularly Advantest. Following an upward revision to its earnings forecast the day before, Advantest's share price surged by 6.0 percent, culminating in a closing price of 37,030 yen. This positive momentum supported the Nikkei Stock Average, which ended the trading day 1.10 percent higher at 64,659.47 points.
The broader Topix index also saw an increase of 0.29 percent, finishing at 4,003.28 points. Among the top-tier Prime Market, gains were observed in bank, securities house, and mining issues.
The U.S. dollar maintained a steady position in the upper 157 yen range, anticipating the outcome of the Bank of Japan's policy meeting slated for release on Friday. Despite initial concerns that even strong earnings would not lift stock prices, Advantest's rally alleviated apprehensions surrounding semiconductor-related shares, according to Shota Sando, an equity market analyst at Tokai Tokyo Intelligence Laboratory Co. Upbeat earnings reports from U.S. counterparts, including tech giants such as Microsoft and SK Hynix, helped dispel concerns about the outlook for artificial intelligence and chip-related sectors, further bolstering market sentiment.
Although the Nikkei briefly turned negative following weaker-than-expected earnings from South Korean tech giant Samsung Electronics Co., it ultimately rebounded on optimism surrounding upcoming earnings releases.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
