TOKYO: Japanese stocks rose on Thursday, led by heavyweight chip-testing toolmaker Advantest, while defence stocks benefited from a media poll showing conservative Prime Minister Sanae Takaichi’s party may win a majority in elections next month.
The broad Topix index advanced 0.3 percent to 3,545.30, reversing earlier losses of as much as 0.8 percent. The tech-heavy Nikkei finished flat at 53,375.60, recouping earlier declines of 0.7 percent.
A Nikkei newspaper poll suggested Takaichi’s Liberal Democratic Party was set to secure a simple majority in the February 8 national election. It currently needs coalition partner Ishin to reach a narrow majority in the lower house.
An LDP victory would give the premier greater leeway in advancing her policy agenda, including bolstering national security and expanding stimulus.
Defence stocks Mitsubishi Heavy Industries added 2.1 percent, Kawasaki Heavy Industries jumped 2.5 percent and IHI Corp climbed 2.8 percent.
Comments