Tokyo stocks jump on tech buying amid semiconductor growth hopes

Economy

Tokyo stocks soared Tuesday morning, with the Nikkei index trading at a 34-year high, as confidence in technology firms was raised after a major semiconductor-related company upwardly revised its profit forecast.

The 225-issue Nikkei Stock Average rose 901.47 points, or 2.44 percent, from Friday to 37,798.89. The broader Topix index was up 47.40 points, or 1.85 percent, at 2,605.28. Japan’s financial markets were closed Monday for a public holiday.

On the top-tier Prime Market, gainers were led by insurance, service and electric appliance issues.

The U.S. dollar largely traded narrowly in the ...

Kyodo News

Kyodo News