Japan's Nikkei extends gains to fifth day, tech leads way [Financial Post (Toronto, Ontario, Canada)]
JAPAN AIRLINES UNSP/ADR (JAPSY)
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Source: Financial Post
Advertisement By 0217 GMT, the Nikkei share average had advanced 2.3% to 27,592.44. The broader Topix gained 1.93% to 1,939.43. U.S. stocks closed sharply higher on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline. “The market was driven by Wall Street’s strong finish. There were no market moving cues in Japan,” said Koichi Kurose, chief strategist, Resona Asset Management. “If there will be any catalyst in Japan, that would be Prime Minister (Fumio) Kishida’s policy, which will depend on how the power within the Liberal Democratic Party shapes up after the death of (former prime minister Shinzo) Abe.” Technology heavyweights advanced, with chip-related Tokyo Electron and Advantest jumping 5.07% and 5.4%, respectively. Technology investor SoftBank Group rose 2.4%. Air-conditioning maker Daikin Industries gained 3.29%. Japan Airl
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