Japan’s Nikkei Jumps to Its Highest Close in a Month And a Half

The Japanese Nikkei index jumped on Tuesday to close at its highest level in six weeks, supported by shares of companies related to chips and shares of the auto industry, after a strong closing of US stocks last night, and with the decline of the yen, which supported auto stocks.

On the first trading day of the new year, the Nikkei rose 1.77% to 29,301.79, the highest close since November 25, starting the new year on a rise for the first time since 2018.

Toyota Motor share jumped by 6.13%, which supported the broader Topix index, to close at a rise of 1.9%, recording 2030.22 points.

The auto sector shares rose 4.5%, supported by the increase in Honda Motor shares 3.07% and Nissan Motor 6.17%, with the dollar’s rise to its highest level in more than a month against the yen.

While Tokyo Electron chip maker’s share rose 3.23%, and the largest contributor to the Nikkei’s rise was followed by Advantest Semiconductor, up 3.67%, and Shin Etsu Chemical 3.69%.