Tokyo stocks rebound on bargain hunting-Xinhua

Tokyo stocks rebound on bargain hunting

Source: Xinhua

Editor: huaxia

2023-10-27 16:45:15

TOKYO, Oct. 27 (Xinhua) -- Tokyo stocks rose Friday on bargain hunting after falling to its worst day in three weeks in the previous session, with chip-related stocks leading the recovery.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 389.91 points, or 1.27 percent, from Thursday at 30,991.69.

The broader Topix index, meanwhile, finished 30.40 points, or 1.37 percent, higher at 2,254.65.

Stocks rose throughout the day, as investor confidence was lifted by rises in U.S. stock futures following strong earnings reports from Amazon.com Inc. and Intel Corp., but market participants refrained from chasing higher ground ahead of the U.S. and Japanese central bank policy meetings next week, analysts said.

Chip-testing equipment maker Advantest advanced 1.73 percent, providing the biggest boost to the Nikkei, while Tokyo Electron climbed 1.76 percent and silicon wafer maker Shin-Etsu Chemical rose 3.11 percent.