Japanese Stocks Rise for Third Day, Technology Sector Leads Rally
Tokyo – Japanese stocks rallied for a third consecutive day on Friday (September 12th), led by gains in technology stocks. US inflation data that met expectations reinforced the view that the Federal Reserve will cut interest rates next week for the first time this year.
The Topix index closed up 0.4% to 3,160.49, while the Nikkei 225 jumped 0.9% to 44,768.12. Of the 1,675 stocks on the Topix, 805 rose, 782 fell, and 88 were unchanged. Tokyo Electron was the largest contributor, rising 5.5%, amid optimism about the global semiconductor sector.
This increase was also driven by a surge in the Philadelphia Semiconductor Index, which hit a new record the day before. Stocks like Advantest also reached new highs, signaling a moderate recovery in semiconductor equipment companies that had previously experienced a significant correction.
Furthermore, technical factors also helped the market, including the expiration of Nikkei 225 options and futures contracts under a special quotation settlement mechanism. This positive sentiment added fuel to the Japanese stock rally, which strengthened in line with the upward trend in global markets. (ayu)
Source: Newsmaker.id
