Japan’s Nikkei closes higher, chip stocks lead recovery

Japanese Nikkei index returned on Friday to close higher after suffering its largest losses in three weeks in the previous session, and chip company shares led this recovery.

According to Reuters, the Nikkei rose 1.27% to close at 30,991.69 points after falling 2.14% in the previous session. The broader Nikkei index ended the session on Friday, up 1.37 percent, at 2,254.65 points.

But regarding the weekly performance, the Nikkei lost 0.86% and the Topix fell 0.04%.

Advantest shares, a maker of chip testing equipment, rose 0.93% after falling seven percent in the previous session, and its rise provided the largest boost to the Nikkei index.

Shares of Tokyo Electron, a maker of chip manufacturing equipment, rose 1.4%, and Shin-Etsu Chemical, a maker of silicon chips, rose 2.06%.

Fujitsu Computer Manufacturing shares jumped 11.99%, recording the best performance on Nikkei, despite the company lowering its expectations for sales and operating profits for the entire year.

Advantest shares, a maker of chip testing equipment, rose 0.93% after falling seven percent in the previous session, and its rise provided the largest boost to the Nikkei index.

Shares of Tokyo Electron, a maker of chip manufacturing equipment, rose 1.4%, and Shin-Etsu Chemical, a maker of silicon chips, rose 2.06%.

Fujitsu Computer Manufacturing shares jumped 11.99%, recording the best performance on Nikkei, despite the company lowering its expectations for sales and operating profits for the entire year.