Japanese Stocks Rise on Tech and Export Sectors
Japanese stocks rose on Friday, though market movements were thin as many foreign investors were absent for holidays. The Topix index rose 0.1% to 3,423.06, while the Nikkei index rose 0.7% to 50,750.39. The gains were driven by technology and export stocks. Nintendo contributed the most to the Topix's rise, rising 2.3%, while AI companies like Disco Corp. and SoftBank Group also posted significant gains.
Export stocks in Japan received a boost after the yen weakened slightly against the US dollar, which has boosted the competitiveness of Japanese companies in the global market. Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, said that rising wages and prices in recent years have created a favorable macro environment for stock prices, while improvements in corporate capital efficiency have also contributed positively.
Furthermore, many individual investors purchase shares to qualify for dividends, as it is the last trading day of the year to qualify for dividends for companies whose fiscal years end in December. With Prime Minister Sanae Takaichi's government's growth-oriented spending policies, the Japanese stock market is expected to continue to receive positive support well into next year. (asd)
Source: Newsmaker.id
