AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

TOKYO: Japan's Nikkei share average rose on Monday, as a sustained rally in oil lifted energy shares, while chipmakers followed their US peers higher.

The Nikkei gained 0.69% to 28,318.54 as of the midday break, rebounding after touching its lowest intraday level since Dec. 6 on Friday at 27,889.21.

About 10 stocks advanced for every one that fell on the benchmark index. The energy sector led gains with a 2.53% jump.

The broader Topix added 0.42%. The Topix growth share index added 0.28%, after dipping to its lowest intraday level since mid-August at the end of last week. The value index gained 0.55%, and touched its highest intraday level since late September.

Japanese shares fall amid rate hike concerns, tech stocks drag

"Over-sold growth stocks are being bought back," said Naoki Fujiwara, a fund manager at Shinkin Asset Management.

"At the same time, the shift from growth stocks to value stocks is also continuing."

Uniqlo store operator Fast Retailing's 1.47% rally made it the Nikkei's biggest gainer by index points, followed by chip giants Tokyo Electron and Advantest, which rose 0.81% and 1.87%, respectively. Peer Renesas rose 2.72%.

On Friday, the US's Philadelphia SE Semiconductor Index jumped 2.33%. Wall Street is shut on Monday for a national holiday.

In addition, local media reported that the Japanese government will set up a subsidy program to assist companies developing chips, large-capacity batteries and other strategic products.

SoftBank Group and Toyota Motor also helped the Nikkei higher, with respective 1.06% and 0.98% advances. Nintendo gained 1.39%.

Comments

Comments are closed.