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Nikkei up 2% at break fueled by tech and airlines

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The main index of the Tokyo Stock Exchange, the Nikkei, rose 2.05% in the mid-session today, driven by gains in the New York stock market and the good performance of technology companies and airlines.

The Nikkei, which brings together the 225 most representative titles on the market, advanced 561.95 points at the break after the first trading stage, reaching 27,992.25 integers.

The broader selective Topix, which includes the firms in the main section, those with the largest capitalization, added 1.95% or 37.35 points, to 1,953.00 units.

The Tokyo stock market opened higher encouraged by gains on Wall Street after what some analysts consider an excessive reaction in the markets due to fears of an economic slowdown due to the tightening of the US central bank’s policies amid skyrocketing inflation, and geopolitical tension, despite recent positive economic indicators.

In this scenario, investors in the Japanese stock market were carried away by bargain hunting after the Nikkei closed the day before at its lowest level in a month and a half due to the accelerated depreciation of the yen, especially against the dollar, which It was still moving today in the low range of 144 yen.

Among the sectors that supported the advance in Tokyo during the first leg were technology and airlines.

Semiconductor analysis equipment maker Lasertec had the largest trading volume, up 1.26%.

The chip manufacturer Tokyo Electron added 2.35%, the Softbank telecommunications group advanced a similar 2.34% and the technological multinational Sony, 1.8%.

Japan’s two largest airlines, ANA and JAL, advanced 3% and 4%, respectively, after easing on the eve of Japan’s border and tourism restrictions.


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