TOKYO: Japan’s Nikkei share average rose on Monday, buoyed by Wall Street’s gains at the end of last week, although profit-taking on major semiconductor-related shares limited gains.
After seesawing between gains and losses for much of the day, the Nikkei closed up 0.2% at 39,160.5, while the broader Topix finished 0.3% higher at 2,734.56.
The Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat company forecasts and as US jobs data fuelled expectations the Federal Reserve would cut interest rates this month.
AI-focused startup investor SoftBank Group, up 2%, and Uniqlo parent firm Fast Retailing, adding 1.9%, were among heavyweight Japanese shares to get a lift from Wall Street’s gains.
The solid US economic picture also supported trader sentiment, while data on Monday showed Japan’s economy expanded at a faster pace than initially reported in July-September, thanks to upward revisions in capital investment and exports.
But declines in chip-related shares weighed on the overall index. Chip-testing equipment maker Advantest’s 4.7% drop was the second steepest on the Nikkei, just behind online retailer ZOZO, down 5%.
Tokyo Electron shed 0.8%.
Source: Brecorder
