Japan’s Nikkei Tops 51,000 for 1st Time

Tokyo, Oct. 29 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average jumped over 1,000 points to exceed 51,000 for the first time ever on Wednesday morning as investors hunted semiconductor-related issues actively. The Nikkei index ended the morning session at 51,249.82, up 1,030.64 points, or 2.05 pct, from Tuesday. The broader TOPIX index inched up 2.03 points, or 0.06 pct, to 3,287.90, after slipping to negative territory briefly. Chip-testing equipment maker Advantest attracted hefty purchases after revising up on Tuesday its earnings forecasts for the year ending in March next year. The issue alone pushed up the Nikkei by around 1,000 points. Meanwhile, around 80 pct of stocks on the Tokyo Stock Exchange’s top-tier Prime section fell as selling to lock in profits continued following their recent sharp rises. “Advantest alone is pushing up the Nikkei stock average, and buying is being held back on the whole,” an official of a major securities company said. END [Copyright The Jiji Press, Ltd.]