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Nikkei ends at three-decade high on tech, brokerage shares boost

Stock MarketsJan 14, 2021 14:50
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© Reuters.

TOKYO, Jan 14 (Reuters) - Japan's benchmark Nikkei stock
average closed at its highest level in three decades on
Thursday, helped by a rally in tech shares and
better-than-expected core machinery orders.
The Nikkei index .N225 ended 0.85% higher at 28,698.26,
while the broader Topix .TOPX rose for a sixth straight
session to end 0.48% higher at 1,873.28.
The mood for equities also brightened ahead of an expected
announcement later in the day about U.S. economic stimulus under
incoming President Joe Biden.
"The upward market trend is prompting investors to buy more
stocks. Investors are buying stocks out of this 'fear of missing
out' sentiment," said Takashi Hiroki, chief strategist, Monex
Securities.
Chip-related stocks led the gains, tracking a 7% jump in
Intel INTC.O after the company said it would replace its chief
executive officer and expects to beat its financial forecast for
the fourth quarter.
Other tech-related shares also rose after data showed
Japan's core machinery orders unexpectedly rose for a second
straight month in November.
Nikon Corp jumped 7.21% to be the largest gainer on the
Nikkei 225 index, followed by Yaskawa Electric 6506.T , rising
5.3%.
Murata Manufacturing Co 6981.T gained 0.84%, Fanuc Corp
6954.T climbed 2.22%, while SoftBank Group 9984.T rose
2.93%.
Shares of brokerages also advanced, with online broker Monex
Group 8698.T surging 10.78%, while Nomura Holdings 8604.T
added 1.41% and Daiwa Securities Group 8601.T jumped 2.29%.
Honda Motor 7267.T fell 0.07% after the company said it
would halt output at its British factory next week due to
COVID-19 related global supply chain issues.
Toyota Motor 7203.T gained 0.22%.
The top percentage losers in the Nikkei 225 was GS Yuasa
Corp 6674.T , down 5.02%, followed by JFE Holdings Inc
5411.T , Kawasaki Kisen Kaisha Ltd 9107.T both losing 4.7%
each.

Nikkei ends at three-decade high on tech, brokerage shares boost
 

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