The Nikkei 225 extended its gains, closing ¥1,378 higher than the previous day at ¥66,399. Buying in semiconductor stocks, together with gains in the U.S. SOX index and Korean stocks, supported the market.
The Nikkei 225 extended its gains to close at ¥66,399, up ¥1,378 from the previous day. Shipping stocks also supported the market, while expectations of higher freight rates spread against the backdrop of worsening conditions in the Middle East. 日本郵船 set a new all-time high since listing.
Among semiconductor-related stocks, Kioxia rose for a fifth consecutive session. Reports that Micron was considering doubling its production capacity for advanced memory were viewed as a positive catalyst, sending the stock up about 6%.
Among economic indicators, the July business conditions index rose 1.7 points from the previous month to its highest level in 7 years and 9 months. The underlying assessment remained unchanged at “improving.”
In corporate earnings, 萩原工業 announced operating profit of ¥1.8 billion for the year ended July, up 38.2% from the previous fiscal year. Price revisions were reported to have contributed to higher revenue.