Nikkei +0.8%: Tech Goes Up!
The Japanese stock market rose 0.8%, with the Nikkei at 51,336.61. The gains were led by technology and electronics stocks, amid a weaker yen that boosted exporters' profit prospects. USD/JPY traded at 154.16, up from 153.96 at Monday's close.
In the technology sector, buying interest was prominent in SoftBank Group and Lasertec. Sentiment for Lasertec remains supported by the narrative of a recovery in chip spending following recent product/research updates, while SoftBank is benefiting from exposure to the AI theme.
The weaker yen is boosting export-based stocks and raising hopes for domestic quarterly results. Relatively benign exchange rates are maintaining risk appetite in Tokyo this morning.
The next focus is on the release of quarterly results: Sony Group and Kawasaki Heavy Industries are scheduled to report results this Tuesday, Tokyo time. The results have the potential to be the next driver of sentiment in the technology and industrial sectors. (asd)
Source: Newsmaker.id