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<Asia> Nikkei Closes Up 236 Points or 0.4% as Tech Stocks Lead, SoftBank (9984.JP) Surges Over 6%
Japanese equities rose today (22nd), supported by US President Donald Trumps announcement of an indefinite extension of the ceasefire with Iran. Heavyweight SoftBank (9984.JP) ral...
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<Asia> Nikkei Closes Up 236 Points or 0.4% as Tech Stocks Lead, SoftBank (9984.JP) Surges Over 6%
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Japanese equities rose today (22nd), supported by US President Donald Trumps announcement of an indefinite extension of the ceasefire with Iran. Heavyweight SoftBank (9984.JP) rallied sharply, driving a broader gain in the index. The Nikkei Average opened down 245 points before reversing course, once rising 359 points to a record high of 59,708. It closed up 236 points, or 0.4%, at 59,585. The Japanese yen remained steady, with USD/JPY at 159.19.

Among AI and semiconductor-related stocks, heavyweight SoftBank rose 8.5%. Semiconductor packaging and substrate maker Ibiden (4062.JP) and memory chip manufacturer Kioxia (285A.JP) climbed 6.1% and 6.3%, respectively. Advantest (6857.JP) gained 2.6%, while Disco (6146.JP) and Lasertec (6920.JP) rose 0.8% and 0.6%. Tokyo Electron (8035.JP) slipped 0.6%. Cable makers saw mixed performance, with Furukawa Electric (5801.JP) down 0.5% and Fujikura (5803.JP) up 1.6%.

After Japans Cabinet approved the export of lethal weapons, heavy machinery stocks declined. Mitsubishi Heavy Industries (7011.JP) fell 0.3%, while Kawasaki Heavy Industries (7012.JP) and IHI (7013.JP) each dropped more than 1%. In the metals sector, JX Metals (5016.JP) rose 0.7%, Mitsui Mining & Smelting (5706.JP) gained 2.3%, and Sumitomo Metal Mining (5713.JP) fell 2.5%. Trading houses were broadly lower, with Mitsui & Co. (8031.JP) and Sumitomo Corp. (8053.JP) down 2.9% and 2.8%, and Mitsubishi Corp. (8058.JP) declining 2%.

Elsewhere, Fast Retailing (9983.JP) fell 2.8%, automaker Toyota (7203.JP) dropped 2.7%, Mitsubishi UFJ Financial (8306.JP) slid 1.3%, while Tokyo Electric Power (9501.JP) rose 3.7%. Sanrio (8136.JP) tumbled 5.4%. Hitachi (6501.JP) declined 3% after earlier announcing the sale of an 80% stake in its Japanese home appliance business.

Bruce Kirk, Chief Japan Equity Strategist at Goldman Sachs, said US investors are returning to the Japanese equity market as confidence recovers from the impact of the Middle East crisis. A stable yen has also encouraged US capital inflows into the tech-heavy Nikkei 225 Index. He added that as Japanese authorities are unlikely to tolerate a sharp depreciation of the yen beyond 160 per US dollar, unhedged US investors may be more willing to increase their exposure to Japanese equities. (fc/u)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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