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Nikkei extends rally into fifth session, tech shares lead gains

Published 14/01/2021, 04:19
Updated 14/01/2021, 04:24
© Reuters.

TOKYO, Jan 14 (Reuters) - Japan's benchmark Nikkei stock
average hit a fresh three-decade high on Thursday, extending
gains into a fifth day as technology shares tracked a surge in
U.S. chipmaker Intel Corp and better-than-expected core
machinery orders data lifted sentiment.
The Nikkei index .N225 rose 1.38% to 28,849.01 in the
morning session, while the broader Topix .TOPX climbed 0.86%
to 1,880.40 and was on course for a sixth straight session of
gains.
"The upward market trend is prompting investors to buy more
stocks. Investors are buying stocks out of this 'fear of missing
out' sentiment," said Takashi Hiroki, chief strategist, Monex
Securities.
Chip-related shares led the gains, tracking a 7% jump in
Intel INTC.O shares after the company said it would replace
its chief executive officer and that it expected to beat its
financial forecast for the fourth quarter.
Advantest Corp 6857.T gained 2.99% and Tokyo Electron
8035.T rose 0.63%.
Other tech-related shares also rose after data showed
Japan's core machinery orders unexpectedly rose for a second
straight month in November. Murata Manufacturing Co 6981.T rose 2.85%, while Yaskawa
Electric 6506.T jumped 5.65 Fanuc Corp 6954.T climbed 1.2%,
while SoftBank Group 9984.T rose 3.45%.
Shares of brokerages advanced, with Nomura Holdings 8604.T
gaining 2.49% and Daiwa Securities Group 8601.T rising 3.16%.
Mizuho Financial Group 8411.T added 0.21%.
Honda Motor 7267.T edged up 0.31%, even after the company
said it would halt output at its British factory next week due
to COVID-19 related global supply chain issues.
Toyota Motor 7203.T fell 0.14%.
The top percentage losers in the Topix index were GS Yuasa
Corp 6674.T , down 4.41%, JFE Holdings Inc 5411.T , down
3.68%, and Kawasaki Kisen Kaisha Ltd 9107.T , losing 3.34%.

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