Tokyo's Nikkei Index Finishes With Small Gains

Tokyo, (APP - UrduPoint / Pakistan Point News - 15th May, 2024) Tokyo's Nikkei index closed slightly higher on Wednesday as Sony Group soared after a US media report said it was rethinking its bid for tv and film giant Paramount.

The benchmark Nikkei 225 index gained 0.08 percent, or 29.67 points, to end at 38,385.73, while the broader Topix index was flat, losing just 0.07 points to 2,730.88.

"The Nikkei index gained, buoyed by higher US stocks and a sharp rise in Sony Group, which announced its results yesterday," IwaiCosmo Securities said.

"Sony surged on the back of the results, as well as share buybacks, stock split plans and (a media report) on the company reconsidering the acquisition of Paramount.

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During an earnings press conference on Tuesday, Sony Group did not comment on rumours of a joint $26 billion bid for Paramount Global with Apollo Global Management.

But CNBC reported that Sony was "rethinking" its bid for the US owner of CBS, Comedy Central and MTV.

In Tokyo trading, Sony Group jumped 8.23 percent to 12,950 yen.

Chip-linked shares were higher, with Tokyo Electron gaining 1.85 percent to 35,230 Yen and Advantest climbing 1.86 percent to 5,358 yen.

The Dollar fetched 156.34 yen against 156.40 yen in New York.