TOKYO, Jan 31 (Reuters) - Japan's Nikkei index reversed course to trade higher on Monday, with technology heavyweights leading the gains, as risk sentiment was lifted by Wall Street's strong finish.
By 0210, the Nikkei share average (.N225) rose 0.8% to 26,942.45, after losing as much as 0.65% earlier in the session. The broader Topix (.TOPX) gained 0.72% to 1,890.51.
All three major U.S. stock indexes closed higher on Friday, fuelled by strong earnings from tech firms including Apple (AAPL.O), while investors turned their eyes toward corporate earnings and ignored geopolitical turmoil and concerns over the Federal Reserve's tightening.
Register now for FREE unlimited access to Reuters.com
"Today's market is rising just like the spring is stretching back, supported by the rebound on Wall Street last week," said Chihiro Ohta at the investment research and investor services at SMBC Nikko Securities.
"The market's direction this week will depend on the upcoming U.S. economic data and corporate earnings. The point is whether the Nikkei will recover the 27,000 level and extend the gains."
Technology shares gained, with chip-related Tokyo Electron (8035.T) and Advantest gaining 2.64% and 4.69%, respectively.
Staffing agency Recruit Holdings (6098.T), which is seen as a technology stock for its holdings in the U.S. online job search Indeed, gained 5.67%.
Alps Alpine (6770.T) surged almost 20% and was the top gainer on the Nikkei, after the maker of car navigation systems raised its annual operating profit forecast.
Omron (6645.T) tanked 8.34% after the healthcare equipment maker cut its annual operating profit outlook.
Chubu Electric Power (9502.T), down 9.24%, was the biggest loser on the Nikkei, while Tokyo Electric Power Company Holdings Inc (9501.T) lost 6.5%.
Register now for FREE unlimited access to Reuters.com
Reporting by Junko Fujita; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles.
"course" - Google News
January 31, 2022 at 09:40AM
https://ift.tt/SHpsq9YWV
Nikkei reverses course as tech stocks track Wall Street's gains - Reuters
"course" - Google News
https://ift.tt/R7ab4izKI
https://ift.tt/tVReI5SXy
Bagikan Berita Ini
0 Response to "Nikkei reverses course as tech stocks track Wall Street's gains - Reuters"
Post a Comment