Japan's Nikkei hits record high on strong earnings boost

Tokyo stocks closed higher on Wednesday, with the benchmark Nikkei stock index finishing at a record high as strong corporate earnings results lifted investor sentiment, News.Az reports, citing Xinhua.

The 225-issue Nikkei Stock Average rose 529.54 points, or 0.84 percent, from Tuesday to close at 63,272.11.

The broader Topix index also advanced, gaining 46.58 points, or 1.20 percent, to finish at 3,919.48.

On the top-tier Prime Market, shares related to nonferrous metals, wholesale trade, and transportation equipment led the gains.

The Nikkei index briefly moved into negative territory early in the trading session, pressured by heavyweight technology stocks after declines in the tech-focused U.S. Nasdaq index.

However, the Topix index stayed in positive territory, while the Nikkei later recovered its losses as buying driven by strong earnings reports supported the market. Investors showed interest in companies that exceeded expectations or were considered undervalued.

At the same time, stocks linked to artificial intelligence and semiconductors remained strong after earnings announcements highlighted increasing demand across the sector.

News.Az 

By Nijat Babayev