TOKYO: Japan’s Nikkei share average rose on Thursday to finish at more than a one-month closing high as technology stocks rallied after US peer Nvidia’s earnings delivered on sky-high expectations.
Markets were not disappointed in the week’s most closely watched event, with Nvidia hitting a record high after the US chipmaker forecasted quarterly revenue above estimates on Wednesday and announced a stock split.
“Nvidia earnings were better than expected. So that was definitely positive for Japanese tech stocks, especially semiconductor-related companies,” said Kenji Abe, equities analyst at Daiwa Securities. Japan’s tech shares rallied on the news, buoying the Nikkei share average to end up 1.26% at 39,103.22, its highest closing level since April 15.
The broader Topix closed 0.64% higher at 2754.75.
Chip-related shares have been among the Nikkei’s best performers over the past year, helping the benchmark index climb to a record intraday high of 41,087.75 in March.
Comments
Comments are closed for this article.