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As on : 03-Dec-2024
Market Commentary - Foreign Markets
03-Dec-2024     15:46

Japanese markets rally, Nikkei up 1.91%

Japanese markets rallied to hit a three-week high on optimism that Japan-made chip products will be exempted from new U.S. curbs on exports to China.

The Nikkei average jumped 1.91 percent to 39,248.86 while the broader Topix index settled 1.43 percent higher at 2,753.58.

Chip-making equipment giant Tokyo Electron surged 4.3 percent, peer Advantest climbed 3.9 percent and AI-focused startup investor SoftBank Group advanced 2.7 percent.

Uniqlo-owner Fast Retailing gained 2.5 percent and electronic components maker TDK added 1.9 percent.

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