Nikkei Recovers Losses, Posts Strong Gains at Close

The Nikkei index recovered from early losses and closed today’s trading session with strong gains after a weaker yen boosted sentiment. Chip stocks also limited the decline after Taiwanese chipmaker TSMC posted record profits.

The Japanese currency fell as much as 0.5% against the dollar, reaching a three-and-a-half-month low on Wednesday.

The Nikkei rose 0.6% to 39,901.19, reversing an earlier 0.7% loss. The broader Topix index rose 0.7%.

Silicon maker Sumco was the biggest percentage gainer on the Nikkei, jumping 7%.