Tokyo Shares Recover Early Losses to Close Higher

Fri Nov 17 2023
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TOKYO: Tokyo stocks shrugged off earlier losses to close higher on Friday despite US shares being dropped by discouraging corporate forecasts.

The benchmark Nikkei 225 index went up 0.48%, or 160.79 points, to end at 33,585.20, while the broader Topix index climbed 0.95%, or 22.43 points, to 2,391.05.

Iwai Cosmo Securities said that the Nikkei index opened lower following a sharp drop in Applied Materials, a leading semiconductor equipment company in the United States, AFP reported.

Other shares in Tokyo

It said, however, the Nikkei index bounced back into positive territory as Tokyo Electron and other value-added semiconductor stocks showed signs of a turnaround.

The US dollar fetched 150.61 yen, against 150.76 yen in New York late Thursday.

Among major shares, Tokyo Electron, which makes semiconductor tools, added 0.10%to 24,115 yen, while chip-testing equipment manufacturer Advantest firmed 0.14% to 4,717 yen.

Automakers also supported the market, with Toyota climbing 0.46% to 2,892.5 yen and Honda gaining 0.93% to 1,626 yen.

Nissan jumped 1.21% to 616.1 yen.

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