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Tokyo Shares Rise as Investors Await Earnings; Chip Sector Rallies


Tuesday, 23 July 2019 09:57 WIB

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Japanese stocks edged higher on Tuesday morning, with the semiconductor sector leading the gains, tracking Wall Street moves, though trading remained thin ahead of the domestic earnings season for the April-June quarter.

The benchmark Nikkei share average rose 1.0% to 21,622.78 in late morning trade, its highest level in a week. The broader Topix added 0.8% to 1.568.58.

Overnight, U.S. S&P 500 climbed 0.3%, a shade below its July 15 record high close, while the Dow Jones Industrial Average rose 0.1% and the Nasdaq Composite added 0.7%.

Chip stocks gained partly on news that U.S. President Donald Trump agreed at a meeting with the heads of top technology companies to make “timely” decisions on requests by U.S. companies to sell to China’s Huawei Technologies.

Source : Reuters


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