TOKYO, Dec. 11 (Xinhua) — Tokyo shares rose for a 3rd consecutive day on Wednesday as shopping for in monetary, insurance coverage, and heavy business shares supported the market.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed the day at 39,372.23, up 4.65 factors, or 0.01 p.c from the earlier buying and selling day.
Financial and heavy business shares led the beneficial properties after knowledge confirmed the nation’s producer costs rose 3.7 p.c year-over-year in November, exceeding market expectations of three.4 p.c and marking the quickest development since July 2023.
The knowledge fueled hypothesis that the Bank of Japan may announce further price hikes in its upcoming financial coverage assembly, benefiting banking shares.
In distinction, semiconductor shares, together with Advantest, Tokyo Electron, and Disco, confronted heavy losses.
The Tokyo Stock Price Index (TOPIX) additionally rose for the third straight session, closing up 7.90 factors, or 0.29 p.c, at 2,749.31.
On Tokyo Stock Exchange’s Prime part, advancers outnumbered decliners with 823 rising shares, 750 falling, and 71 unchanged.