Tokyo Shares Recover as Tech and Defense Stocks Advance

Japan’s stock market
Japan’s stock market

Japanese Stocks Advance on Advantest Gains

Tokyo:  Japanese stocks closed higher today, supported by gains in semiconductor and defense-related shares, led by a strong performance from chip-testing equipment maker Advantest.

The broader Topix Index rose 0.3 percent to 3,545.30 points, recovering from early losses of 0.8 percent, while the technology-heavy Nikkei Index ended flat at 53,375.60 points, after declining 0.7 percent earlier in the session.

Shares of defense companies posted gains, with Mitsubishi Heavy Industries advancing 2.1 percent, Kawasaki Heavy Industries rising 2.5 percent, and IHI Corp gaining 2.8 percent.

Advantest shares jumped 5.2 percent after the company, a key supplier to Nvidia, raised its annual profit forecast by 21 percent, lifting sentiment in the semiconductor sector.

Conversely, shares of chipmaking equipment manufacturer Tokyo Electron fell 5.6 percent, while Fujikura shares declined 3 percent.

Automaker stocks climbed 2.3 percent, rebounding from a 6.7 percent decline over the previous three sessions, which had been driven by a sharp appreciation of the yen that weighed on export-oriented companies.

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