Nikkei 68,557.73rebounds; China falls on profit-taking
10Asian stocks rose in Japan and Hong Kong on semiconductor strength, while China fell on profit-taking. The Nikkei closed at 68,557.73 and Micron 2035announced an investment of 2,500 hundred million dollars.
10Asian stocks in Japan and Hong Kong rose on semiconductor strength, while China fell on profit-taking. For investors, this is a sign that short-term volatility could increase in semiconductor- and export-related sectors.
Nikkei225index closed at 68,557.73 and was up 1.20% from the previous session.
Topix closed at 4,036.08, and JPX Nikkei 400closed at 36,572.31.
Overnight, the Philadelphia Semiconductor Index in the United States rose 3.06%, and Micron said it would invest 2035through 2,500billion dollars.
For SK hynix’s U.S. American Depositary Receipt (ADR) demand forecast, subscriptions came in at more than 7times the offering size. SoftBank Group surged 14% intraday.
Advantest and Tokyo Electron at one point rose by around 5%. Kioxia Holdings climbed as much as 8% intraday before giving back some of its gains.
Fast Retailing fell by about 4% as investors took profits.
The Shanghai Composite Index closed at 3,996.16and fell 1.00% from the previous session.
The Shenzhen Composite Index closed at 2,675.49and fell 1.24%.
SMIC (SHS:688981), Cambricon (SHS:688256), and Shengyi Technology (SHS:600183) fell. In contrast, consumer and domestic-demand shares such as Kweichow Moutai rose. Taiwan's stock market was closed because of the typhoon.