Japanese stocks jumped on Friday, supported by shares of chip-related companies and other blue chips that led gains after a rise in… Wall Street On closing overnight, along with growing hopes of a recovery in global economic growth following China’s easing of anti-COVID-19 restrictions.
The Nikkei index closed up 1.18% at 27,901.01 points, recording the largest daily increase since November 11, and rose 0.44% during the week.
The broader Topix index rose 1.03% to 1961.56 points, and recorded an increase of 0.39% during the week.
Advantest stock, which is related to the chip industry, achieved the best performance on the Nikkei index, jumping 5.78%. Rival Tokyo Electron rose 2.93%. SoftBank Investment Group rose 1.2%, and TDK, the manufacturer of electronic components, rose 3.43%.
Shiseido Cosmetics, one of the stocks likely to benefit from a recovery in consumer spending in China, rose 3.24%, gaining more than 6.5% for the week. Toshiba shares rose 4.4%.
The utility sector index rose 2.24%, recording the best performance among the sub-indices on the Tokyo Stock Exchange.