TOKYO – Tokyo's benchmark Nikkei index jumped nearly 1.5% on Thursday, led by rallies in tech stocks following gains on the US Nasdaq index.
The Nikkei 225 rose 1.46%, or 410.65 points, to close at 28,550.93, while the broader Topix index was up 0.67%, or 13.14 points, at 1,986.97.
“Tech shares led today's gain following a rise in the Nasdaq,” said Shinichi Yamamoto, a broker at Okasan Securities.
On Wall Street, the tech-rich Nasdaq led the major indices, climbing 0.7% on Wednesday.
“Investors are increasingly focusing on corporate results as the earnings season gets into full swing later this month,” Yamamoto told AFP.
Japan's new Prime Minister Fumio Kishida dissolved the lower house on Thursday afternoon ahead of general elections on October 31.
“The political news did not affect the market today,” Yamamoto said.
“But it's not a negative factor from now, as politicians often unveil good news for the market ahead of elections.”
The dollar fetched 113.56 yen in Asian afternoon trade, against 113.25 yen in New York late Wednesday.
In Tokyo, tech and semiconductor-related shares gained ground.
Tokyo Electron, which makes tools to build semiconductors, soared 5.18% to 48,120 yen with industrial robot maker Fanuc up 2.29% at 23,220 yen.
Fast Retailing jumped 1.85% to 72,870 yen. Shortly after the closing bell, the Uniqlo operator said its net profit jumped 88% for the year to August, forecasting a bigger profit for the current fiscal year. – AFP, October 14, 2021
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