URGENT: Nikkei briefly rises 2% led by buying of tech stocks

Economy

Japan’s Nikkei index briefly climbed around 2 percent Tuesday as investors bought up technology stocks following solid earnings results.

The Nikkei rose as high as 37,634.76, its highest intraday level since February 1990. Tokyo financial markets were closed Monday for a public holiday.

The biggest gainer among the Nikkei index components was semiconductor manufacturing equipment maker Tokyo Electron, which was up over 11 percent in the first hour of trading after the company revised up its profit forecast for the year ending March on Friday.

Kyodo News

Kyodo News