Japanese stocks closed higher as yen slid

Japanese stocks rose at the close today, Tuesday, amid a state of enthusiasm among investors due to the decline of the yen, and the gains were led by companies related to the heavy chip sector, as well as Toyota, which announced that its quarterly profits had doubled.

According to “Reuters”, the Nikkei index rose 0.92% to close at 33476.58 points, while the broader Topix index increased 0.64% to 2337.36 points.

US stocks rose on Monday, at the end of the month of July, which witnessed a strong performance, thanks to positive corporate business results and hopes for a soft landing in light of the strength of the US economy.

The yen fell to a three-week low again as investors study the Bank of Japan’s (central) latest steps to adjust its yield curve control policy.

Toyota Motor shares rose 2.49%, topping the gainers on the Topix index, after the automaker announced that its operating profits had nearly doubled in the first quarter.

Sony shares rose 1.24%.

Chipmaker Tokyo Electron rose 2.82%, providing the biggest support for the Nikkei index. Advantest shares jumped 4.02%.

All of the 33 sub-indices listed on the Tokyo Stock Exchange rose, except for four indices only

The banking sector index interrupted a wave of gains that lasted for three sessions, falling 1.23%, and recording the worst performance among the sub-indices.

The utility companies index rose 3.29 percent, recording the best performance among the indices.