Tokyo: Stocks close higher on high-tech gains

[TOKYO] Tokyo stocks rallied on Thursday as major high-tech shares rebounded, with the Nasdaq back on the upswing after a pullback.

The benchmark Nikkei 225 index rose 0.88 per cent or 202.93 points to 23,235.47, while the broader Topix index jumped 1.21 per cent or 19.46 points to 1,624.86.

"The gain in the Nasdaq encouraged investors to buy back electronics and other high-tech shares," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

The tech-rich Nasdaq Composite Index finished up 2.7 per cent, leading rebound on the three major indices on Wall Street.

"Buying sentiment was also supported by the news that a vaccine trial could soon resume," Mr Horiuchi told AFP.

Investors remained cautious ahead of the European Central Bank's meeting later in the day as its decision could move currency rates, brokers said.

The US dollar fetched 106.13 yen in Asian afternoon trade, against 106.12 yen in New York late Wednesday.

In Tokyo, SoftBank Group, which has heavily invested in US high-tech shares, jumped 2.16 per cent to 5,800 yen (S$74.82) following a five-day losing streak.

Gaming giant Nintendo surged 1.98 per cent to 59,030 yen and Sony jumped 1.70 per cent to 8,216 yen.

But some chip-linked shares remained under selling pressure. Chip-making equipment manufacturer Tokyo Electron lost 1.67 per cent to 25,590 yen while Advantest, creator of semiconductor testing equipment, fell 1.30 per cent to 4,915 yen.

AFP