HomeLatestJapan's Nikkei snaps 5-day dropping streak on chip-related shares

Japan's Nikkei snaps 5-day dropping streak on chip-related shares

TOKYO, July 11 (Xinhua) — Tokyo shares closed combined on Tuesday with the benchmark Nikkei index up marginally after 5 straight classes of losses, because the market was lifted by traders scooping up chip-related shares.

The 225-issue Nikkei Stock Average rose 13.84 factors, or 0.04 %, from Monday to complete at 32,203.57.

The broader Topix index, in the meantime, closed 6.93 factors, or 0.31 %, decrease at 2,236.40.

Decliners had been led by transportation tools, electrical energy and fuel, and pharmaceutical points, whereas gainers had been farm and fishery, metallic product, and precision instrument points.

Among large-cap automakers, Toyota Motor fell 2.2 %, whereas Mazda Motor dropped 3.1 %.

Heavyweight semiconductor shares supported the market after the important thing U.S. semiconductor stock index rose in a single day, with chip-testing tools maker Advantest leaping 4.3 % and Tokyo Electron gaining 1.1 %.

Also propping up the market was Sumco, which surged 4.8 %, following a news report that the Japanese authorities will give the most important producer of silicon wafers a subsidy of as much as 75 billion yen (530 million U.S. {dollars}) to fund extra capability.

Source

Latest