Japan’s Nikkei 225 index recovered from two days of losses to rise over 1% on Thursday as semiconductor firms and tech stocks led gains.
Benchmark Nikkei 225 index rose 1.5% to 28,564 points on Thursday. The index had lost 0.3% a day earlier.
Tech stocks in Tokyo tracked overnight gains on Nasdaq with chipmaking equipment manufacturer Tokyo Electron climbing over 5% to emerge among the top gainers on the benchmark.
Semiconductor firms lead gains
Semiconductor firms Advantest and SCREEN Holdings gained over 3% and over 4%, respectively. Topix-17 Electric Appliances & PRE Instrument was the best performing sectoral sub-index on Thursday, up 1.7%.
Metal product firms Toho Zinc and Mitsui Mining and Smelting were among the top five gainers on the index as zinc prices extended gains after a European smelter cut production due to high energy prices.
Meanwhile, medical devices maker PHC Holdings fell over 18% on its first day of trade in Japan’s biggest initial public offering in 2021.
HK on holiday
Mainland China shares seesawed on Thursday as China saw factory costs rise to the highest level ever in September on soaring energy prices amid a nationwide power shortage. Market in Hong Kong was shut for holiday on Thursday.
China’s blue-chip CSI 300 index fell 0.5%, while bourses in Shanghai and Shenzhen remained flat on Thursday.
“As inflation pressure is limited among producers, we believe the People’s Bank of China will maintain its targeted approach and keep the benchmark interest rate on hold,” said ANZ Research in a note.
Aussie shares snap three days of losses
Australia’s S&P/ASX 200 index snapped three straight days of losses on Thursday as gains in tech and mining stocks helped the benchmark gain 0.5%.
Singapore tightens monetary policy
Elsewhere, South Korea’s KOSPI index extended Wednesday’s gains to rise 1.5% as tech heavyweights Samsung Electronics and SK hynix climbed 0.9% and 2%, respectively.
In Southeast Asia, Singapore’s Straits Times index inched 0.2% higher after the city-state’s central bank tightened its monetary policy for the first time in three years.
Markets in Indonesia and Philippines were up 0.9% and 1.6%, respectively. Bourses in Thailand and Malaysia were down 0.3% and 0.6%, respectively.
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