Nikkei opens782.87points higher on semiconductor strength
10At the Tokyo Stock Exchange, the Nikkei225index started782.87points higher at68,526.72. Strength in U.S. semiconductor stocks, Micron’s announcement of a major investment, and heavy subscriptions for SK hynix ADRs served as positive factors.
10At the Tokyo Stock Exchange, the Nikkei225index opened782.87points higher at68,526.72. The early gains were reportedly driven by strength in U.S. semiconductor stocks.
The Philadelphia Semiconductor Index rose more than3%, while the VanEck Semiconductor exchange-traded fund (SMH) gained2.5%. This upward trend also spread to Asian markets.
Micron Technology announced that it would invest2035by the year in facilities including factories in the United States, totaling US$2,500billion. The news boosted investment sentiment in the semiconductor sector.
Micron shares rose 4.52%, while SanDisk surged 7.59%. Strength in both stocks lifted the sector index.
Demand for SK hynix’s American Depositary Receipts (ADRs) reportedly exceeded 7times the offering size. The news raised expectations for the semiconductor industry.
The market believes that strength in U.S. semiconductor stocks led to buying of Japanese semiconductor and electronic component stocks. Early trading on the Tokyo Stock Exchange was marked by notable strength centered on semiconductor-related stocks.
Sources: 뉴시스 경제
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