TOKYO: Tokyo stocks closed higher on Thursday, buoyed by gains on semiconductor shares, after the US Federal Reserve left interest rates unchanged and triggered buying on Wall Street.
The benchmark Nikkei 225 index climbed 1.10 percent, or 348.24 points, to end at 31,949.89, while the broader Topix index rose 0.51 percent, or 11.71 points, to 2,322.39.
Tokyo stocks close sharply higher
Investors cheered the Fed’s decision, while weak US economic data amplified their belief that the US central bank won’t raise rates going forward, at least for the time being.
“Caution over a prolonged period of monetary tightening has eased” after the Fed’s decision, Iwai Cosmo Securities said.
“Following gains of US high-tech shares, Japanese chip stocks rose sharply, boosting the Tokyo market,” they added.
The dollar traded at 150.44 yen against 150.89 yen in New York on Wednesday.
Chip-testing equipment maker Advantest soared 10.00 percent to 3,949 yen while chip-linked Screen Holdings surged 7.70 percent to 8,014 yen.
Chip-making equipment manufacturer Tokyo Electron jumped 3.29 percent to 21,060 yen.
Toyota gained 1.77 percent to 2,760 yen, a day after the car giant ramped up its annual net profit forecast to $26.1 billion. SoftBank Group advanced 1.50 percent to 6,280 yen.
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