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Tokyo stocks close 236 points higher for third straight gain, recovering to reach record high
Tokyo stocks fell in early trading on the 22nd before turning higher led by futures, with the Nikkei Stock Average closing at a record high. However, upside remained limited, and declining issues significantly outnumbered advancing ones.
The Nikkei Stock Average closed at 59,585.86, up 236.69 points from the previous session, marking its third consecutive gain. Trading volume on the Prime Market totaled approximately 2,169.63 million shares, with trading value of approximately 7,901,800 million yen. Advancing issues numbered 236, while declining issues totaled 1,302, with 36 unchanged.
In the Tokyo market, concerns over Middle East tensions weighed on sentiment, causing the Nikkei to open lower. Following the open, buying of Nikkei 225 futures by overseas short-term players pushed the index higher through index-linked buying of heavily weighted stocks. While European and US markets closed lower the previous day?with the Dow Jones Industrial Average and Nasdaq Composite both declining?Tokyo’s major semiconductor stocks were stimulated by the Philadelphia Semiconductor Index (SOX) recording its 15th consecutive gain. Despite the Nikkei reaching a record high, declining issues exceeded 1,300, accounting for nearly 83% of Prime Market stocks. The TOPIX fell for a second day, highlighting a skewed market.
Among individual stocks, Kioxia Holdings <285A> surged with trading value again exceeding 1,000,000 million yen, while SoftBank Group <9984> also showed strength. Advantest <6857> and Disco <6146> were bought, while Resonac Holdings <4004> and Ibiden <4062> attracted interest. Mitsui E&S <7003> moved higher. Musashi Seimitsu Industry <7220> led gainers, while Obic <4684> surged and Samco <6387> rose substantially. KLab <3656> and Shift <3697> also posted notable gains.
On the downside, Furukawa Electric <5801> and Tokyo Electron <8035> came under selling pressure. Fast Retailing <9983> probed lower levels, and Toyota Motor <7203> retreated. Kokusai Electric <6525> was weak. SRE Holdings <2980> plunged, while Sky Perfect JSAT <9412>, Nojima <7419>, and Sakura Internet <3778> posted substantial losses. Sanrio <8136> also declined noticeably.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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