Japan’s Nikkei index closed higher on Tuesday, briefly surpassing the 40,000-point mark before some gains were trimmed by profit-taking and concerns about potential intervention by Japanese authorities to stabilize the yen.<\/p>\n\n\n\n
The Nikkei index ended Tuesday’s session up 0.1 percent at 39,838.91 points.<\/p>\n\n\n\n
Although the index has risen approximately 19 percent this year and reached record levels above 40,000 points last month, profit-taking activities pushed it to a two-week low on Monday.<\/p>\n\n\n\n
Shares of Fast Retailing, the parent company of the Uniqlo brand, managed to hold onto a 0.1 percent gain, while Toyota Motor shares relinquished early gains to close down 0.2 percent.<\/p>\n\n\n\n
On the other hand, shares of Tokyo Electron, a major player in chip manufacturing equipment, maintained their gains and rose by 3.4 percent.<\/p>\n\n\n\n
Technology-related stocks received a strong boost from their counterparts in the United States, fueled by the ongoing enthusiasm for artificial intelligence, which continues to drive up the US semiconductor sector index.<\/p>\n\n\n\n
Lasertech, a chip testing equipment maker, saw its shares rise by 1.9 percent, while Sumco, a producer of silicon used by semiconductor manufacturers, posted the strongest performance, gaining 4.4 percent.<\/p>\n\n\n\n
In addition to profit-taking, concerns about potential intervention by authorities to manage the Japanese currency limited gains, as the yen continued to trade near 151.72 to the dollar.<\/p>\n\n\n\n
Japanese Finance Minister Shunichi Suzuki stated on Tuesday that he was not ruling out any options to respond to uncontrolled currency movements.<\/p>\n\n\n\n
The broader Topix index closed 0.25 percent lower at 2,714.45 points.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japan’s Nikkei index closed higher on Tuesday, briefly surpassing the 40,000-point mark before some gains were trimmed by profit-taking and concerns about potential intervention by Japanese authorities to stabilize the yen. The Nikkei index ended Tuesday’s session up 0.1 percent at 39,838.91 points. Although the index has risen approximately 19 percent this year and reached …<\/p>\n","protected":false},"author":9,"featured_media":80397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6837,6885,8501,8143],"class_list":["post-99476","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-eurozone","tag-fed","tag-feds-beige-book","tag-interest-rate-hikes"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=99476"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99476\/revisions"}],"predecessor-version":[{"id":99477,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99476\/revisions\/99477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/80397"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=99476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=99476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=99476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}