2023-07-03 08:25:19
The Tokyo Stock Exchange continues to reap gains
Japan’s Nikkei index closed at a 33-year high on Monday, with machinery makers leading gains, while a quarterly central bank survey indicated a recovery in corporate activity.
The Nikkei index rose 1.7 percent to 33,753.33 points, the highest closing level since March 1990. The broader Topix index rose 1.41 percent to 2,320.81 points.
The Bank of Japan’s quarterly tankan survey showed business sentiment improving in the second quarter, as firms expected capital spending to increase and inflation to remain above the BoJ’s 2 percent target for the next five years.
The machinery makers index jumped 3.23 percent, the best performer among 33 sub-indices on the Tokyo Stock Exchange.
Air-conditioning maker Daikin Industries rose 6.75% and Komatsu, the world’s second-largest construction machinery maker, rose 2.01%.
Chip-related shares also rose, with chipmaking equipment maker Tokyo Electron jumping 3.94% and chip testing equipment maker Advantest jumping 5.93%.
Z Holdings, which runs Internet company Yahoo Japan, jumped 5.25 percent.
Meanwhile, Takashimaya Mall Management Co fell 1.34 percent, becoming the worst performer on the Nikkei index. Likewise, the shares of its peer, J. Front Retailing 0.76 percent.
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