Tokyo stocks end higher on firm tech shares-Xinhua

Tokyo stocks end higher on firm tech shares

Source: Xinhua

Editor: huaxia

2024-05-27 18:38:45

TOKYO, May 27 (Xinhua) -- Tokyo stocks ended higher on Monday as technology shares tracked advances by their U.S. counterparts late last week.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 253.91 points, or 0.66 percent, from Friday at 38,900.02.

The broader Topix index, meanwhile, finished 23.82 points, or 0.87 percent, higher at 2,766.36.

The market was supported by a rise in high-tech shares such as Screen Holdings and Advantest after a record high closing on the Nasdaq index late last week. But gains were limited amid concerns over rising long-term interest rates in Japan, analysts said.

Market watchers here noted a continued rise in Japan's benchmark 10-year government bond yield pressured stocks after it briefly climbed 0.020 percentage point from Friday's close to 1.025 percent, its highest level since April 2012, raising concerns about higher borrowing costs and housing loans.