Tokyo stocks end higher on gains in tech, exporters-Xinhua

Tokyo stocks end higher on gains in tech, exporters

Source: Xinhua

Editor: huaxia

2024-10-28 16:06:45

TOKYO, Oct. 28 (Xinhua) -- Tokyo stocks ended sharply higher Monday on strong high-tech shares, while the yen's depreciation led investors to seek exporter issues.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 691.61 points, or 1.82 percent, from Friday at 38,605.53.

The broader Topix index, meanwhile, finished 39.46 points, or 1.51 percent, higher at 2,657.78.

The yen hit a three-month low in the upper 153 range against the U.S. dollar on yen selling fueled by Japan's political uncertainty after the ruling coalition failed to retain their lower house majority in Sunday's general election.

On the stock market, the Nikkei index at one point surged over 2 percent, buoyed by heavyweight high-tech shares that tracked gains on the technology-heavy Nasdaq index and a key U.S. semiconductor index late last week.

Stocks were additionally supported by the buying of export-related shares on the yen's depreciation.