Furukawa Electric shares rose about 10% in Tokyo trading on the 25th. As views emerged that electric wire stocks had been oversold, the Nikkei Stock Average rebounded and buying spread across the broader market.
Furukawa Electric shares rose about 10% in Tokyo trading on the 25th. The move came against a backdrop of market views that electric wire stocks had been oversold.
The Nikkei Stock Average rebounded for the first time in 3 trading days, closing up ¥328.34 from the previous day at ¥65,856.43. The index opened lower and at one point fell by more than ¥900, but dip-buying subsequently prevailed.
The reversal into afternoon gains by South Korea's KOSPI and Taiwan's TAIEX, both of which have high weightings of technology stocks, was also said to have supported investor sentiment.