Japan's Nikkei rises as SoftBank Group trims losses; Topix hits new high
[hfe_template id='11223']
[ad_1]
The Nikkei closed 0.43% higher at 51,063.31 in choppy trade. The broader Topix jumped 1.14% to a record high close of 3,359.33.
SoftBank Group ended 3.46% lower, after falling 10%, as the technology investor disclosed its sale of Nvidia stake for $5.8 billion.
Heavyweight chip-related shares fell, with Advantest and Tokyo Electron down 0.23% and 1.55%, respectively.
"SoftBank Group pared losses, while investors bought stocks across various sectors, which helped the Nikkei to end higher," said Shota Sando, market analyst at Tokai Tokyo Intelligence Laboratory.
TDK, maker of electronic components, jumped 4.92% to become the biggest source of the Nikkei's gains, while drugmaker Chugai Pharmaceutical rose 4.37%.Mitsui Kinzoku, a maker of materials for AI-data centres, surged 23.27% after raising its annual profit forecast by 75%."The optimism surrounding artificial intelligence-related shares is still alive as investors scooped up AI-related shares with strong outlook," said Hitoshi Asaoka, chief strategist at Asset Management One.
Sony rose 3.67% after the game and audio equipment maker raised its operating profit forecast for the year ending March 2026 by 8%.
Bank shares rose, with Mitsubishi Financial Group and Sumitomo Mitsui Financial Group gaining 3.38% and 1.95%, respectively.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 78% rose, 19% fell and 2% traded flat.
Sumco tanked 20.16% to become the biggest percentage loser on the Nikkei, after the silicon producer forecast a 16.9 billion yen annual net loss, bigger than analysts' expectations of a 5.2 billion yen loss.
Comments
Post a Comment