TOKYO: Tokyo’s Nikkei stocks index advanced on Wednesday following gains on Wall Street, with semiconductor and blue-chip shares attracting buyers.
The benchmark index added 0.60 percent, or 189.98 points to 31,936.51 but the broader Topix index dropped 0.19 percent or 4.35 points to 2,307.84.
The Nikkei rose in thin trade as semiconductor stocks surged following gains of US tech shares. Tokyo investors sensed that the market lacked energy after marking sharp gains on Tuesday and as the Nikkei approached the psychologically key level of 32,000.
Despite the Nikkei’s gain, only about 20 percent of shares on the Tokyo market’s “Prime” section rose while nearly 80 percent fell.
“The Nikkei has advanced but a closer look at the market shows that investors are still selling on temporary recovery,” said Chihiro Ota of SMBC Nikko Securities.
“The Topix was zigzagging between the positive and negative regions. Overall, today’s market saw a mix of both selling and buying,” Ota said.
Overnight, the 10-year US Treasury note yield fell further on hints from Federal Reserve officials that they may be done hiking interest rates.
Comments
Comments are closed for this article.