Yen Weakens, Japanese Stocks Also Gain Pressure
Japanese stocks closed higher after a weaker yen, which typically benefits exporters. The Topix rose 0.3% to 3,563.59, while the Nikkei 225 gained 0.8% to 53,333.54. However, the movement was uneven: the number of decliners still outnumbered the gainers, indicating that the gains were driven by a few large stocks.
The strongest gains came from semiconductor stocks. Advantest surged 5.9% and was one of the main drivers of the Topix. Meanwhile, the transportation sector weakened. Analysts cited "selective buying," and technology sentiment rebounded after Nasdaq-100 futures rose again.
In the currency market, the yen remained hovering around 154 per dollar, and traders remained wary of potential intervention. Prime Minister Sanae Takaichi had previously warned that the government was prepared to deal with movements deemed "abnormal," while a report on a "rate check" by the New York Fed also added to market caution. Some of the perpetrators are also suspected of buying back positions after what was deemed excessive selling the day before. (az)
Source: Newsmaker.id
