Tokyo Stocks End Higher Over Tech Heavyweight Gains

Fahad Shabbir (@FahadShabbir) Published February 27, 2024 | 03:00 PM

TOKYO, (APP - UrduPoint / Pakistan Point News - 27th Feb, 2024) Tokyo stocks closed slightly higher on Tuesday driven by gains of tech-related firms in the overnight U.S. stock market, despite a widespread cautious sentiment.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, gained 5.81 points, or 0.01 percent, from Monday to close the day at 39,239.52, marking a new high for the third consecutive trading day.

The broader Topix index also extended its winning streak to finish 4.84 points, or 0.

18 percent, higher at 2,678.46, a new 34-year high.

Tracking overnight gains of semiconductor-related stocks on Wall Street, the Nikkei average started with an increase in the morning session, but persistent caution due to consecutive record highs and profit-taking sales led to moments of decline, market watchers here noted.

On the Prime Market, gainers were led by steel, banking, and machinery shares.

Issues that advanced outpaced those that declined by 946 to 668, while 43 ended the day unchanged.