TOKYO: Japan’s Nikkei share average closed higher on Tuesday, briefly scaling 40,000 points before profit-taking and the risk of currency intervention by Japanese authorities hemmed in gains.
The Nikkei finished the day up 0.1% at 39,838.91.
The index is up about 19% this year and scaled the 40,000 mark to record highs last month, although profit booking pushed it to a two-week low on Monday.
Traders took advantage of the drop to buy stocks, with many companies getting a boost before profit-taking set in again to limit gains.
Uniqlo parent firm Fast Retailing eked out a 0.1% gain, while Toyota Motor erased earlier gains to finish 0.2% down.
Chip-making equipment giant Tokyo Electron, meanwhile, held onto gains, rising 3.4%.
Technology-related stocks received a tailwind from their US peers as the AI frenzy continued to boost the US semiconductors index.
Chip-testing equipment maker Lasertec gained 1.9%, while Sumco Corp, which produces silicon used for semiconductor manufacturers, was the best performer, rising 4.4%.
Along with profit-taking, the index’s gains were also capped as the risk of currency intervention lingered, with the yen continuing to trade around 151.72 per dollar.
Comments
Comments are closed.