Market Updates
Tokyo Tech Rally Lifts Nikkei 225 1.9%, Yen Approaches 160 Yen
Akira Ito
07 Jan, 2025
Tokyo
Benchmark indexes in Tokyo rebounded, tracking gains in tech stocks in New York in overnight trading.
The Nikkei 225 Stock Average soared 1.9%, and the broader TOPIX gained 1%, following a rise in semiconductor stocks in overnight trading in New York.
Semiconductor-related stocks jumped after the Taiwan-based Foxconn reported a sharp jump in revenue in the December quarter, citing strong demand for artificial intelligence servers.
Foxconn said it will release full fourth-quarter results on March 14.
The rally in tech stocks broadened to financials, retailers, and automotive companies.
In the week ahead, investors are looking forward to the release of household income and spending data, which could provide additional clues about consumer spending and saving.
Japan Stock Movers
The Nikkei 225 Stock Average increased 1.9% to 40,060.95, and the broader TOPIX index jumped 1% to 2,783.87.
Advantest Corp. jumped 4.8% to ¥9,747.0, Tokyo Electron Ltd. soared 11.5% to ¥27,110.0, Disco Corp. increased 7.6% to ¥46,470.0, and Lasertec Corp. advanced 5.8% to ¥15,870.0.
Mitsubishi UFJ Financial Group increased 2.9% to ¥1,913.0, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,872.0, and Mizuho Financial Group gained 2.2% to ¥3,969.0.
Fast Retailing Co. Ltd. increased 1.2% to ¥52,180.0, Seven & I Holdings Co. Ltd. inched higher 0.3% to ¥2,449.0, and Isetan Mitsukoshi Holdings Ltd. gained 0.8% to ¥2,705.0.
Toyota Motor Corp. gained 1.6% to ¥3,061.0, Honda Motor Corp. increased 1.6% to ¥1,607.50, Nissan Motor Corp. added 1.1% to ¥480.50, and Subaru Corp. advanced 1.6% to ¥2,793.50.
Annual Returns
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Earnings
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