Nikkei Rebounds 0.6%, Tech Stocks Leading the Way
Japanese stocks rose in Thursday morning trading after a ceasefire between Israel and Iran appeared to be going smoothly. This condition eased investor concerns about the potential for conflict escalation in the Middle East. The Nikkei index rose 0.6% to 39,171.05. Chip and technology sector stocks were the main drivers of the strengthening, with SoftBank Group rising 4.0%, Advantest rising 3.5%, and Kioxia Holdings strengthening 2.8%.
The market strengthening occurred amid the decline in the dollar exchange rate against the yen. The USD/JPY pair was at 144.87, lower than the position of 145.15 at the close of the market in Tokyo on Wednesday. Investors are also still monitoring developments in the geopolitical situation and tariff talks between the US and its trading partners which could affect global market sentiment.
Source: (ayu-newsmaker)