Japan’s Nikkei index closed higher on Tuesday, buoyed by strong gains in shares of companies linked to the semiconductor industry.
This came amid investor caution over the possibility of renewed intervention by authorities to prop up the yen.
The Nikkei index rose 0.32% to close at 63,957.53 points.
Meanwhile, the broader Topix index rose 0.04% to 3,961.78 points.
Semiconductor Stocks Boost Nikkei
The semiconductor sector led the gains, with Fujikura shares jumping 7.88%.
Kioxia shares rose about 6%, while Tokyo Electron shares climbed 3.11%.
The gains coincided with continued monitoring of the yen’s movements, after the Japanese Ministry of Finance confirmed that Tokyo and Washington had carried out a coordinated intervention to support the Japanese currency.
The dollar rose 0.29% to 157.62 yen.
In contrast, Toyota Motor shares fell 1.52% after its quarterly profits declined for the fifth consecutive time.
Yamaha Motor shares jumped 13.4% following strong results and an upward revision of its annual forecast, while Furukawa Electric shares rose 11.44%.
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