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NewsJapan's Nikkei gains for seventh week, thanks to chip stocks

Japan’s Nikkei gains for seventh week, thanks to chip stocks


The Nikkei index closed up 0.37% at 30,916.31 points, posting gains for the seventh consecutive week, the longest winning streak in five years.

The broader Topix index was up 0.6% on the day but closed unchanged at 2,145.84 points, halting a six-week winning streak.

Japanese stocks had a volatile week after both indexes rose to pre-1990 levels on Tuesday before falling sharply.

At the individual stock level, the Nikkei’s performance was very mixed. 70 of the 225 stocks listed there rose, while 153 stocks fell and two closed unchanged.

The energy sector was the worst performer in the Nikkei index, and its shares fell 2.45% after crude oil prices fell sharply from their highest level in nearly a month.

While technology companies were the best performers, their shares jumped 0.52%.

Chip-making equipment giant Tokyo Electron rose 4.44% and chip-testing equipment maker Advantest, whose customers include Nvidia Corporation, rose 3.92%, after rising 16%. THURSDAY.

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