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Japan's key stock index rises for 4th straight day

0 Comment(s)Print E-mail Xinhua, December 5, 2024
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TOKYO, Dec. 5 (Xinhua) -- Japan's key stock index extended its gains for the fourth consecutive session on Thursday as bullish sentiment was fueled by strong performance in the U.S. stock market that prompted active buying of key Japanese stocks.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, gained 119.21 points, or 0.3 percent, to close at 39,395.60.

The surge in U.S. tech stocks, driven by rising expectations of Federal Reserve interest rate cuts, boosted Tokyo's semiconductor-related stocks.

Additionally, uncertainty surrounding the political situation in South Korea led to speculative buying, benefiting defense-related stocks.

Bank of Japan Policy Board Member Toyoaki Nakamura told a Hiroshima conference Thursday that he was "not opposed to interest rate hikes," causing the yen to rise while dampening the Nikkei's advance.

The broader Topix index also rebounded, closing 1.64 points, or 0.06 percent, higher at 2,742.24.

On Tokyo Stock Exchange's Prime section, advancing stocks outnumbered decliners by 967 to 611, with 66 unchanged. Enditem

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