Japan Stocks at its highest level in two weeks, supported by technology

Japan’s Nikkei stock index rose on Thursday to its highest level in more than two weeks, supported by technology companies after the decline in long-term US bond yields Wednesday evening.

The Nikkei index closed up 1.23 percent to 27,553.06 points, the highest level since April 5, when the broader Topix index closed up 0.67 percent to 1928.00 points.

A trader from a Japanese brokerage company said that investors’ anticipation of the companies’ results limited the Nikkei’s gains, and that the movements in the currency markets reduced the appetite for risks.

The dollar rose 0.34 percent to 128.305 yen, after hitting a 20-year high of 129.430 on Wednesday, as the Bank of Japan intervened in the bond market for the third time in three months to defend the zero yield target.

Chip equipment maker Tokyo Electron rose 3.54 percent, the main supporter of the Nikkei and TOPIX indexes, after earnings from global peer ASML beat expectations.

Daikin Industries, an air conditioner, rose 3.54 percent, and Sony Games and Cameras Group Inc rose 1.49 percent.

Canon shares fell 2.18 percent.

Shares of 149 companies on the Nikkei index rose, while shares of 69 companies fell.