Thursday, 25 July 2024

Nikkei hits two-month high supported by chipmaker industry


Japan’s Nikkei index closed at its highest level in two months, today, Tuesday, with shares of heavyweight companies linked to the chip industry rising, tracking the path of their counterparts on Wall Street, at a time when investors are awaiting the decision of the Federal Reserve (the US central bank) on interest rates at a time when later this week.

Investor confidence was strengthened during early trading on the Tokyo Stock Exchange after the Standard & Poor’s 500 and Nasdaq recorded their highest closing levels ever last night.

Shares of companies related to the chip industry in Japan achieved a particularly strong performance, following gains achieved by the semiconductor index on the Philadelphia Stock Exchange.

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Investors are cautiously awaiting the US Consumer Price Index report for May, scheduled for release tomorrow, Wednesday.