Nikkei rises for the fourth day in a row, with the rise of technology stocks

Japan’s Nikkei rose for the fourth straight session on Thursday, posting its longest winning streak since mid-June, after record earnings from US chip designer NVIDIA lifted shares of Japanese technology companies.

The Nikkei index increased 0.87 percent to 32,287.21 points at the close, approaching its highest level during the day, and its gains for this week rose to 2.66 percent.

The Nikkei index received support from Tokyo Electron, a maker of chipmaking equipment, and Advantest, a maker of chip testing machines, which together contributed to raising the index by 104 points. SoftBank Group, which invests in startups focused on artificial intelligence, contributed another 36 points.

Nvidia shares rose nearly 10 percent after Wall Street closed, after the company expected third-quarter revenue to far exceed analysts’ estimates.

Among the 225 stocks listed on the index, 156 rose, 67 declined, and two remained unchanged.

The broader Topix rose 0.42 percent.

The gains come ahead of the Federal Reserve’s annual meeting in Jackson Hole, Wyoming, on Friday, which could provide clues about the course of monetary policy. Bank of Japan Governor Kazuo Ueda will attend the meeting.

Tokyo Electron rose 3.25 percent, and Advantest rose 1.6 percent. SoftBank Group rose 2.68 percent.