Nikkei Ends above 58,000 for 1st Time since March 2

Tokyo, April 15 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average rose further to close above 58,000 for the first time since March 2 on Wednesday, reflecting receding concerns over the Middle East situation. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section climbed 256.85 points, or 0.44 pct, from Tuesday to end at 58,134.24. The broader TOPIX index was up 15.06 points, or 0.40 pct, at 3,770.33. Wednesday’s upward march was backed by expectations that the United States and Iran will hold a second round of talks in Pakistan, which serves as intermediary, aiming to end their fighting, market sources said. Semiconductor-linked issues continued to lead the market’s upswing. High-priced names such as chip-testing device maker Advantest went up after the U.S. SOX Philadelphia semiconductor index rewrote its record high the previous day. But some of them turned lower after Dutch chipmaking equipment manufacturer ASML released its January-March earnings report. “The earnings were rosy but fell short of market expectations,” an official at a Japanese asset management firm said. Short-term investors were believed to be main market players Wednesday, brokers said. “The U.S. military continues to block ship entries into and departures from ports in Iran or areas off the country, so the Middle East situation remains uncertain,” an official of a Japanese bank said. It was difficult for long-term investors to become either optimistic or pessimistic, the official added. END [Copyright The Jiji Press, Ltd.]