Japan`s Nikkei snaps four-day losing streak as chip-related shares jump

Published on 10/02/2025 at 03:15 am EDT
(Reuters) - Japan's Nikkei share average rose on Thursday, snapping four straight sessions of losses, as chip-related stocks tracked their U.S. peers higher.
The Nikkei rose 0.87% to 44,936.73, after shedding 2.6% in the last four sessions. The broader Topix fell 0.24% to 3,087.4.
Chip-making equipment maker Tokyo Electron jumped 7.88% on Thursday after the U.S. Philadelphia chip index notched a record high overnight.
Chip-testing equipment maker Advantest rose 2.52% and artificial intelligence technology investor SoftBank Group jumped 5.78%.
"Investors who bet on U.S. technology stocks bought Japanese tech shares today," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
However, analysts expect the recovery to be short-lived, given the fall in the Topix.
"Retail investors refrain from buying stocks as they are waiting for the shares to fall further," said Kamada.
"The Nikkei has risen too high. The decline in the Topix index is a real reflection of the market sentiment."
The Nikkei, which is heavily weighted by chip-related shares, hit a record high last month, helped by gains in the segment. It has risen 12.6% so far this year, heading for a third straight annual gain.
Bank shares fell on Thursday, with Mitsubishi UFJ Financial Group down 1.92%. Mizuho Financial Group and Sumitomo Mitsui Financial Group lost 1.4% and 1.04%, respectively.
Auto shares also lost some ground, with Toyota Motor and Honda Motor losing 0.58% and 0.53%, respectively.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 63% fell, 33% rose and 2% traded flat.
 (Reporting by Junko Fujita; Editing by Subhranshu Sahu and Janane Venkatraman) 

Sumber : Reuters