Nikkei Hits Peak - Euphoria or Bubble?
The Nikkei 225 index edged up 0.04% to 51,326, while the Topix index gained 0.69% to 3,301 on Thursday, hitting a new record. The gains came after the Bank of Japan held its benchmark interest rate at 0.5% by a 7-2 vote, with two members (Naoki Tamura and Hajime Takata) pushing for a rise to 0.75%. The market remains skeptical about the likelihood of a policy change in December, as the BOJ appears cautious, while Prime Minister Sanae Takaichi is known for her support of loose monetary policy.
On the stock front, Advantest hit a new record after raising its profit forecast due to strong demand for chip test kits. Lasertec surged more than 20% ahead of its earnings release, and other gainers included Kioxia Holdings (8.1%), Fujikura (3.5%), Tokyo Electron (1.5%), Mitsubishi Heavy Industries (12%), and NEC Corp (13.2%). Investors' focus remains on the BOJ's future direction and its impact on Japan's booming technology sector. (az)
Source: Newsmaker.id
