Japan’s Nikkei Soars to Record High 51,000 on Tech Surge
(MENAFN) Japan’s benchmark Nikkei stock index soared to a record high above 51,000 on Wednesday, propelled by strong gains in technology stocks after chip industry leader Advantest Corp. raised its earnings outlook.
The 225-issue Nikkei Stock Average climbed 1,088.47 points, or 2.17 percent, from Tuesday, closing at 51,307.65. In contrast, the broader Topix index slipped 7.63 points, or 0.23 percent, to finish at 3,278.24.
Analysts attributed the Nikkei’s jump to Advantest, whose shares surged following a robust earnings report showing that its net profit in the April-September period more than doubled from a year earlier.
Investors, however, sold broadly across the Topix, as gains were locked in after recent rallies and cautious sentiment prevailed ahead of upcoming monetary policy meetings of the U.S. and Japanese central banks.
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