Tokyo Stocks See Modest Recovery Amid Tech Surge, Yen Concerns
(MENAFN) Tokyo's stock market saw a modest recovery on Tuesday, buoyed by a positive lead from Wall Street overnight. This sparked a buying spree in semiconductor-related companies and major technology players such as Advantest, Tokyo Electron, and Sony Group.
The Nikkei 225 benchmark index closed at 37,529.49, marking a slight increase of 30.86 points, or 0.08%, from the previous trading session. However, undercurrents of concern persisted regarding potential U.S. pressure on the yen's depreciation during the upcoming Japan-U.S. finance ministerial discussions at the G7 meeting in Canada.
The yen's strengthening to the lower 144 range against the dollar in the afternoon session put a damper on export-oriented stocks like Toyota, temporarily pushing the Nikkei into negative territory.
Investors are largely maintaining a cautious stance, with factors such as weak earnings forecasts for Japan's manufacturing sector and ongoing uncertainty surrounding U.S. tariffs tempering broader buying interest.
The broader Topix index also experienced a slight rebound, closing up 0.44 points, or 0.02%, at 2,738.83. On the Tokyo Stock Exchange Prime Market, 344 stocks advanced, 1,245 declined, and 42 remained unchanged.
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