Japanese shares track sharp gains on Wall Street; tech stocks shine
16/02/2022 02:01
TOKYO, Feb 16 (Reuters) - Japanese shares rose on Wednesday,
led by technology stocks tracking gains in their U.S. peers,
after signs of de-escalating tensions between Russia and Ukraine
drove Wall Street sharply higher.
By 0127 GMT, the Nikkei share average .N225 advanced 2% to
27,390.21, while the broader Topix .TOPX climbed 1.43% to
1,942.16.
"Japanese market rebounded from a sharp fall in the previous
session because the U.S. market jumped overnight," said
Takatoshi Itoshima, strategist at Pictet Asset Management.
"But the gains were capped by weakness of the Nasdaq futures
this morning. And the Russia-Ukraine tension will remain as a
main focus for the market for about a week or so."
Wall Street ended sharply higher overnight, as geopolitical
heat was turned down a notch after Russia said it had withdrawn
some of its troops near the Ukraine border, with the
Philadelphia SE Semiconductor index .SOX posting its largest
one-day percentage gain since March 2021. .N
In Tokyo, chip-related Tokyo Electron 8035.T provided the
biggest boost for the Nikkei, rising 4.11% and Advantest
6857.T climbed 4.56%. Sensor maker TDK 6762.T jumped 5.54%.
Asahi Holdings 2502.T rose 5.15% after the beer maker said
it would close factories in two locations in Japan at the end of
January to boost its productivities. urn:newsml:reuters.com:*:nL4N2UQ1NM
Tyre maker Bridgestone 5108.T jumped 7.63% after
announcing a share buyback. urn:newsml:reuters.com:*:nFWN2UP1LW
As oil prices fell, an explorer Inpex Corp 1605.T lost
5.52% and became the worst performer on the Nikkei. Refiner
Idemitsu Kosan 5019.T fell 2.55 %.
There were 204 advancers on the Nikkei index against 18
decliners.
(Reporting by Junko Fujita; Editing by Shailesh Kuber)
((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))