Tokyo Stocks Close Slightly Higher

Muhammad Irfan Published February 27, 2024 | 11:50 AM

Tokyo, (UrduPoint / Pakistan Point News - 27th Feb, 2024) Tokyo stocks inched up at the close on Tuesday, with bargain-hunting helping the Nikkei index renew its all-time high.

The benchmark Nikkei 225 index ended up 0.01 percent, or 5.81 points, at 39,239.52, while the broader Topix index closed up 0.18 percent, or 4.84 points, to 2,678.46.

"Purchases supported by rallies in US chip-linked shares and a cheaper Yen led gains" in Tokyo trade, but profit-taking capped the upward movement, IwaiCosmo Securities said.

Steelmakers and banks were among winners in the Tokyo market while chip-linked shares fell after recent rallies, IwaiCosmo added.

Overnight on Wall Street, the Dow Jones Industrial Average finished down 0.

2 percent, the S&P 500 dropped 0.4 percent and the tech-rich Nasdaq index slipped 0.1 percent.

The Dollar fetched 150.51 yen in Asian trade, against 150.70 yen in New York and 150.42 yen in Tokyo late Monday.

Among major shares in Tokyo, shipbuilder Hitachi Zosen soared 8.7 percent to 1,251 yen. Kobe Steel jumped 4.4 percent to 2,130 yen. Kawasaki Heavy Industries rallied 3.1 percent to 4,246 yen.

Chip-making equipment manufacturer Tokyo Electron gained 0.7 percent to 36,260 yen but chip-testing equipment maker Advantest dipped 2.1 percent to 6,920 yen. Electronic parts maker Rohm slipped 0.9 percent to 2,591 yen.