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Japanese stocks lifted by technology, commodity shares

Japanese stocks lifted by technology, commodity shares

Japanese stocks rose Thursday, boosted by technology and commodity shares following another record close by the Dow overnight. The dollar was lower against the yen.
The benchmark Nikkei 225 index added 58.98 points, or 0.34 percent, to 17,566.38 points on the Tokyo Stock Exchange at the end of morning trade Thursday, after hitting a 6 1/2-year high of 17,617.64 points earlier in the session.
The recent strength in Tokyo stocks reflects the robust profits of firms amid Japan's long-running economic recovery, Economy Minister Hiroko Ota said Thursday.
Tokyo's gains also came after the Dow Jones industrial average had another record close overnight, finishing 87.97 points higher, or 0.70 percent, at 12,621.77.
But the Nikkei later pulled back as some players waited for quarterly earnings results due from major technology companies after the close of afternoon trade.
Commodity and technology stocks were among the morning's winners. Office equipment maker Ricoh Co. rose on the news that it is in the final stages of negotiations for IBM's digital printer business.
The broader Topix index, which includes all shares on the exchange's first section, rose 3.99 points, or 0.23 percent, to 1,742.60 points. Twenty of the index's 33 subsectors were up, with losers beating gainers 945 to 605 on the exchange's first section.
In currencies, the U.S. dollar was trading at 120.84 yen at 10:50 a.m. (0150 GMT) Thursday, down from 120.95 yen late Wednesday in New York. The euro rose to US$1.2962, from US$1.2961.


Updated : 2021-05-08 16:37 GMT+08:00