What caused the Japanese market to reach a two-month high?

The Japanese market reached a two-month high due to strong gains in semiconductor stocks and positive manufacturing data.

How did Advantest and Tokyo Electron perform?

Advantest and Tokyo Electron shares surged around 8 percent, contributing significantly to market gains.

What does the December manufacturing data indicate for Japan?

The December manufacturing data shows that activity steadied, ending a five-month period of contraction.

Home / Business and Economy / Japan Stocks Soar to 2-Month High on Tech Gains

Japan Stocks Soar to 2-Month High on Tech Gains

5 Jan

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Summary

Nikkei index briefly surpassed 52,000, a two-month milestone.
Advantest and Tokyo Electron shares surged nearly 8 percent.
Manufacturing activity stabilized in December, ending contraction.

Japan Stocks Soar to 2-Month High on Tech Gains

Japanese stock markets closed at their highest point in over two months, driven by a strong performance in major semiconductor-related shares. Advantest and Tokyo Electron experienced notable surges of approximately 8 percent each, ahead of the annual CES technology trade show.

Investor sentiment was further uplifted by recent data revealing that Japan's manufacturing activity stabilized in December. This development marked an end to five consecutive months of contraction, signaling a positive shift in economic momentum. The Nikkei average briefly breached the 52,000 level, a significant psychological milestone.

Ultimately, the Nikkei concluded the trading session with a substantial gain of 2.97 percent, closing at 51,832.80. The broader Topix index also saw a healthy increase, finishing up 2.01 percent at 3,477.52, underscoring a broadly positive day for the Japanese equity market.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.