Tokyo Shares Open Up After US Tech Rally [Barron's]
TOKYO ELECTRON UNSP/ADR (TOELY)
NASDAQ:AMEX Investor Relations:
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Source: Barrons
The benchmark Nikkei 225 advanced 0.39 percent, or 150.93 points, to 39,317.12 in early trade, while the broader Topix index added 0.37 percent, or 9.92 points, to 2,685.65. On Wall Street overnight, optimism surrounding artificial intelligence encouraged buyers, while US inflation data met the market's expectations. Strong investor sentiment around AI "underscores broader confidence in the potential for technological innovation to fuel economic growth and corporate performance," Stephen Innes of SPI Asset Management said. Tokyo investors are also focused on whether the Nikkei could surpass its record close of 39,239, reached on Tuesday, brokerage house Monex said. The dollar stood at 150.21 yen, compared with 149.93 yen seen Thursday in New York. Cosmetics firm Shiseido added 1.16 percent to 4,094 yen after it announced an early retirement programme for 1,500 domestic positions. Semiconductor shares rallied. Tokyo Electron jumped 2.79 percent to 37,900 yen, and Advantest
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