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▼ Japan’s Nikkei Stock Average Rises as US Government Set to Reopen; Topix Hits New High
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Japan’s Nikkei share average inched higher on Thursday, as the U.S. Congress voted to end the historic federal shutdown, while the broader Topix index rose to a fresh peak on value-buying.
The Nikkei .N225 rose 0.3% to 51,189.21 by 0154 GMT. The Topix .TOPX was up 0.63% at 3,380.53 after rising to a record high of 3,389.12 earlier in the day, extending gains to a fourth session.
A deal to end the longest government shutdown in U.S. history cleared Congress on Wednesday, after the House of Representatives voted to restart disrupted food assistance, pay hundreds of thousands of federal workers and revive a hobbled air-traffic control system.
In Japan, chip-related Advantest 6857.T rose 2.95% to become the biggest source for the Nikkei’s gain.
Fiber optic maker Fujikura 5803.T advanced 4.36%, while peers Furukawa Electric 5801.T and Sumitomo Electric 5802.T jumped 13% and 7%, respectively.
SoftBank Group 9984.T fell 4.54% to weigh the most on the Nikkei.
Bank shares rose, with Mitsubishi UFJ Financial Group 8306.T climbing 1.83%. Sumitomo Mitsui Financial Group 8316.T and Mizuho Financial Group 8411.T gained 1.19% and 2%, respectively.
“Investors started buying value stocks. This move is similar to what is going on in the U.S.,” said Kazuaki Shimada, chief strategist at IwaiCosmo Securities.
Wall Street’s main indexes closed mixed on Wednesday, with the Dow Jones Industrial Average .DJI notching a record-high close and the Nasdaq .IXIC losing ground as investors rotated out of pricey technology stocks.
“Money has started flowing to broader stocks and sectors in Japan,” Shimada said.
The utility sector .IEPNG.T jumped 2.33% and the brokerage sector .ISECU.T rose 2.15%.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 64% rose, 30% fell and 4% traded flat.
The Nikkei .N225 rose 0.3% to 51,189.21 by 0154 GMT. The Topix .TOPX was up 0.63% at 3,380.53 after rising to a record high of 3,389.12 earlier in the day, extending gains to a fourth session.
A deal to end the longest government shutdown in U.S. history cleared Congress on Wednesday, after the House of Representatives voted to restart disrupted food assistance, pay hundreds of thousands of federal workers and revive a hobbled air-traffic control system.
In Japan, chip-related Advantest 6857.T rose 2.95% to become the biggest source for the Nikkei’s gain.
Fiber optic maker Fujikura 5803.T advanced 4.36%, while peers Furukawa Electric 5801.T and Sumitomo Electric 5802.T jumped 13% and 7%, respectively.
SoftBank Group 9984.T fell 4.54% to weigh the most on the Nikkei.
Bank shares rose, with Mitsubishi UFJ Financial Group 8306.T climbing 1.83%. Sumitomo Mitsui Financial Group 8316.T and Mizuho Financial Group 8411.T gained 1.19% and 2%, respectively.
“Investors started buying value stocks. This move is similar to what is going on in the U.S.,” said Kazuaki Shimada, chief strategist at IwaiCosmo Securities.
Wall Street’s main indexes closed mixed on Wednesday, with the Dow Jones Industrial Average .DJI notching a record-high close and the Nasdaq .IXIC losing ground as investors rotated out of pricey technology stocks.
“Money has started flowing to broader stocks and sectors in Japan,” Shimada said.
The utility sector .IEPNG.T jumped 2.33% and the brokerage sector .ISECU.T rose 2.15%.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 64% rose, 30% fell and 4% traded flat.
- 13/11 15:25
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