Nikkei Extends Gains despite Increased Profit-Taking Pressure

Jiji Press

17:43 JST, June 29, 2023

TOKYO (Jiji Press) — The key Nikkei stock average shrugged off profit-taking pressure to advance to modestly higher ground Thursday, aided by the popularity of semiconductor-related shares.

The Nikkei average of 225 issues listed on the Tokyo Stock Exchange’s Prime section gained 40.15 points, or 0.12%, to finish at 33,234.14.

The broader TOPIX index closed 2.35 points, or 0.10%, lower at 2,296.25.

The market got off to a strong start, with investors taking heart from the yen’s weakening against the dollar.

Chips and related technologies attracted hefty purchases in the wake of U.S. semiconductor maker Micron Technology Inc.’s robust sales forecast for June-August.