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Nikkei jumps tracking Nasdaq, Tokyo Electron shines

10/13/2021 | 10:44pm EST

TOKYO, Oct 14 (Reuters) - Japan's Nikkei share average rose on Thursday, tracking the Nasdaq overnight, with gains led by chip equipment maker Tokyo Electron and other heavyweight technology stocks.

The Nikkei share average advanced 0.97% to 28,413.61 by 0156 GMT, and the broader Topix edged up 0.3% at 1,979.81. Overnight, the Nasdaq and the S&P 500 gained as the Federal Reserve signalled on Wednesday it could start reducing its crisis-era support for the U.S. economy, which raised confidence for an economic recovery.

The yield on benchmark 10-year Treasury notes declined.

"Markets remain conscious about U.S. interest rates because the rates affect U.S. growth stocks, which influence Nikkei's heavyweights," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.

Tokyo Electron lifted the Nikkei the most by rising 4.9% and Advantest, its peer, gained 3.13%.

Medical equipment makers Olympus and Terumo rose 2.49% and 1.26%, respectively.

Casual restaurant shares rose on hopes of a reopening economy, with Saizeriya surging 13.87% and Yoshinoya Holdings jumping 10.19%.

Bucking the trend, Japanese medical devices maker PHC Holdings fell more than 10% on its initial day of trading, despite pricing the stock at the bottom of the range.

Shippers and oil refiners led declines among the exchange's 33 industry sub indexes by falling 5.21% and 2.42%, respectively. (Reporting by Junko Fujita; Editing by Amy Caren Daniel)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 1.11% 9990 End-of-day quote.29.24%
FAST RETAILING CO., LTD. -4.40% 67400 End-of-day quote.-27.11%
OLYMPUS CORPORATION 2.96% 2539 End-of-day quote.12.52%
PHC HOLDINGS CORPORATION -2.21% 2298 End-of-day quote.0.00%
SAIZERIYA CO.,LTD. 0.41% 2926 End-of-day quote.53.35%
TERUMO CORPORATION -3.66% 4628 End-of-day quote.7.33%
TOKYO ELECTRON LIMITED -1.25% 59840 End-of-day quote.55.83%
YOSHINOYA HOLDINGS CO., LTD. -1.85% 2225 End-of-day quote.16.68%
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