Nikkei Breaks 60,000, Chip Stocks Lead Amid Caution Over US-Iran Conflict
Saham Chip Pimpin di Tengah Waspada Konflik AS–Iran
The Nikkei Stock Average briefly broke through the 60,000 level for the first time, driven by gains in semiconductor-related stocks, although the market remained cautious regarding developments in the US-Iran conflict. The Nikkei rose 0.5% to 59,865.70 after rising as much as 0.7% to 60,013.98.
The index's gains were supported by gains in large-cap stocks, with SoftBank Group rising 5.2% and Renesas Electronics gaining 6.7%. Chip stocks were the main driver of the Nikkei's movement during the session.
However, the gains were uneven, as reflected in the Topix index, which fell 0.1% to 3,741.63. This indicates the rally was more concentrated in select stocks than broad market support.
On the foreign exchange market, the dollar was at 159.40 yen, compared to 159.18 at the close of trading on the Tokyo Stock Exchange on Wednesday. Investors continue to monitor developments in the Middle East, as mediators continue to try to revive the diplomatic process to end the war in Iran, which continues to be a source of global uncertainty. (Asd)
Source: Newsmaker.id
