Nikkei Average Ends at Record High on Chip Strength

Tokyo, April 22 (Jiji Press)–Japan’s key Nikkei 225 stock average finished at an all-time high Wednesday, buoyed by the strength of semiconductor-related components. The index of 225 issues listed on the Tokyo Stock Exchange’s Prime top-tier section climbed 236.69 points, or 0.40 pct, from the previous day to 59,585.86, topping the previous closing high marked Thursday. Chip-linked issues such as SoftBank Group, which gained 8.47 pct after its chip designer unit Arm Holdings PLC surged on the U.S. market Tuesday, and chip-testing device maker Advantest, up 2.57 pct, led the benchmark index higher. Meanwhile, the market as a whole saw broad selling, with the TOPIX index, comprising a wider array of Tokyo issues, shedding 25.39 points, or 0.67 pct, to close at 3,744.99. Stocks were weighed down by a sense of overheating from the market climb through the previous day. U.S. President Donald Trump’s announcement of an extension to the country’s ceasefire with Iran “was not considered much as a trading cue on the Tokyo market because the Strait of Hormuz remained blockaded,” an official at a Japanese bank said. END [Copyright The Jiji Press, Ltd.]