Japan’s Nikkei gains for second day, tracking Wall Street rise
13:37 JST, April 14, 2022
TOKYO (Reuters) — Japan’s Nikkei rose for a second day on Thursday, with tech shares and travel stocks standing out as they tracked overnight gains on Wall Street.
The Nikkei added 1.26% to 27,182.50, as of the midday break, climbing back above the psychological 27,000 level for the first time since Monday. Of its 225 components, 188 stocks rose, while 30 fell and seven were flat.
The benchmark stock index had risen 1.93% the previous day, rebounding after dropping to a four-week closing low of 26,334.98 on Tuesday.
The broader Topix gained 0.83% on Thursday. All but four of the Tokyo Stock Exchange’s 33 subsectors rose, and losses were not more than 0.13%. Air transport was the top performer, rallying 3.86%.
“While the main part of yesterday’s Nikkei gains was just a knee-jerk rebound off the low, today it’s reflecting what happened in U.S. stocks, and there are signs of a potential recovery trend,” said a trader at a domestic securities firm.
Uniqlo store operator Fast Retailing led advancers by index points, gaining 2.42% ahead of its financial results after the day’s market close.
Startup investor SoftBank Group was next with a 2.83% rally, followed by chip giant Tokyo Electron’s 1.58% rise.
A retreat in U.S. Treasury yields has helped rate-sensitive tech stocks, with the Philadelphia SE Semiconductor Index gaining 2.36% overnight.
Other Japanese chipmakers also advanced, with Advantest up 1.64% and Renesas Electronics jumping 3.49%.
Airline ANA Holdings jumped 3.47% after U.S. peer Delta forecast a return to profit in the current quarter.
Travel agency H.I.S. soared 4.01% after announcing it would restart Hawai’i tours following a two-year hiatus.
"BUSINESS" POPULAR ARTICLE
Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
Japan April-Sept. Current Account Surplus Hits Record High
Japan 2023 Food Exports Reach 1 Tril. Yen at Record Pace
69.7 Bil. Yen in COVID-19 Loans to Small Businesses Uncollectible
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
JN ACCESS RANKING
- Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
- Japan April-Sept. Current Account Surplus Hits Record High
- Japan 2023 Food Exports Reach 1 Tril. Yen at Record Pace
- 69.7 Bil. Yen in COVID-19 Loans to Small Businesses Uncollectible
- AI-generated Child Porn Floods Japan-based Website (Update 1)