Japan's Nikkei hits 40,000 level, ends at 6-month high tracking Wall Street rally
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Japan's Nikkei share average closed at a six-month high on Friday, as technology stocks tracked Wall Street's robust finish overnight.The Nikkei jumped 1.43% to 40,150.79, its highest closing level since December 27. The index rose 4.6% for the week, its sharpest weekly gain since the week of September 23, 2024.The broader Topix rose 1.28% to 2,840.54, gaining 2.5% for the week."Investors finally became willing to make long positions on U.S. stocks, underpinned by positive news around easing tensions in the Middle East and expectations for the interest rate cut," said Takamasa Ikeda, senior portfolio manager at GCI Asset Management."Japanese equities mirrored the U.S. trend, led by stocks which are popular among foreign investors."Overnight, Wall Street finished higher, with the S&P 500 and the Nasdaq just shy of record closing highs as the Israel-Iran ceasefire continued to hold and a raft of economic indicators appeared to support the case for the Federal Reserve lowering borrowing costs this year.In Japan, technology stocks rose, with chip-making equipment maker Tokyo Electron jumping 4.3% to boost the Nikkei the most. Tech start-up investor SoftBank Group rose 2.54%. Defence-related stocks Kawasaki Heavy Industries and Mitsubishi Heavy Industries rose 6.15% and 2.71%, respectively, on expectations of increased defence spending in Japan.Bucking the trend, chip-testing equipment maker Advantest lost 1.07%, weighing the most on the index, as investors booked profits from its more than 40% rise this month."Still, the rally on overall IT-related shares will continue. The market is just relocating their targets," Ikeda said.Of the more than 1,600 stocks trading on the Tokyo Stock Exchange 's prime market, 72% rose, 24% fell and 2% traded flat.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
2 hours ago
- India Gazette
India looking at option of buying more S-400 air defence systems from Russia
ANI 27 Jun 2025, 22:37 GMT+10 By Ajit Dubey New Delhi [India], June 27 (ANI): With the S-400 air defence missile systems performing very well during Operation Sindoor, India is considering the option of buying two more squadrons of S-400 long range surface-to-air missile systems from Russia, defence sources told ANI. The sources said more systems of the S-400 are being considered due to security threats in view of the recent hostilities and the time to be taken in the development and deployment of the indigenous LRSAM programme, codenamed Project Kusha by the Defence Research and Development Organisation, with Solar Defence and Aerospace Limited and Bharat Dynamics Limited as its development and production partners. The Indian side would prefer to get S-500 air defence system which has more range than the S-400 but it would require a clearance from the top Russian leadership for its sale, they said. The S-400 performed exceptionally in Operation Sindoor taking out multiple Pakistan Air Force fighter and airborne early warning aircraft. It also managed to create a record of sorts by successfully hitting an aircraft at a range of 300 plus kilometres. India is also awaiting the delivery of two more squadrons of the five S-400 squadrons that it had ordered in a 2018 deal. The first three squadrons have already been received and operationally deployed. Just before the delivery of the fourth squadron, war broke out between Russia and Ukraine. The systems meant for India were probably used in the war. The Russian side has now assured the delivery of the remaining two systems in the next financial year. Indian defence teams have also raised the issue with the Russian side and they have given assurances to not extend the schedule further. (ANI)
Time of India
2 hours ago
- Time of India
Foreign debt climbs: India's external debt rises 10% to $736.3 billion in FY25; debt-to-GDP edges up to 19.1%
I ndia's external debt rose 10% to $736.3 billion at the end of March 2025 from $668.8 billion a year earlier, according to data released by the Reserve Bank of India (RBI) on Friday. The debt-to-GDP ratio also inched up to 19.1% from 18.5% in FY24. The increase includes a $5.3 billion valuation impact due to the appreciation of the US dollar against the rupee and other currencies. Excluding this effect, the underlying increase in debt was $72.9 billion, PTI reported. Breakdown of debt composition The non-financial corporate sector accounted for the largest share, borrowing $261.7 billion. Deposit-taking corporations excluding the central bank owed $202.1 billion, while the government's share of external debt stood at $168.4 billion. Long-term debt (with original maturity above one year) rose by $60.6 billion to $601.9 billion. Meanwhile, the share of short-term debt in total external liabilities declined to 18.3% from 19.1% a year ago. However, the ratio of short-term debt to foreign exchange reserves rose slightly to 20.1%, up from 19.7% at the end of FY24, the report said. Debt instruments and currency mix Loans remained the largest component of external debt, making up 34% of the total, followed by: Currency and deposits: 22.8% Trade credit and advances: 17.8% Debt securities: 17.7% The US dollar continued to dominate India's foreign borrowing, accounting for 54.2% of the total external debt. Other currencies in the debt mix included the Indian rupee (31.1%), Japanese yen (6.2%), Special Drawing Rights (4.6%), and euro (3.2%). Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
New Indian Express
2 hours ago
- New Indian Express
Mazagon Docks to buy 51% of Colombo Dockyard for Rs 452 crore
Mazagon Dock Shipbuilders (MDL) has agreed to acquire a controlling 51% stake in Sri Lanka's largest and most established shipyard Colombo Dockyard for a consideration of Rs 452 crore, the city-based state-run shipbuilder said. "Mazagon Dock has announced a significant step in its strategic evolution with the approval of a proposed acquisition of a controlling 51% stake in Sri Lanka's largest and most established shipyard Colombo Dockyard PLC. The investment, valued at up to $52.96 million, will be carried out through a combination of primary infusion and secondary share purchase, including the acquisition of shares from the Japanese owner Onomichi Dockyard Co, the current majority shareholder," MDL said in a statement Friday. This marks MDL's first international foray and is a major milestone in the company's transformation from a purely domestic shipbuilder into a regional maritime player with global aspirations, the statement added. Strategically located within the Port of Colombo, Colombo Dockyard offers MDL a strong operational foothold in the Indian Ocean region--one of the busiest and most geopolitically significant maritime corridors in the world. Mazagon Dock has its facilities in the eastern sea front in south Mumbai builds frontline warships and submarines and has played a pivotal role in the Navy's modernization drive. The publicly traded Colombo Dockyard is the flagship of Sri Lanka's maritime industry and serves a wide spectrum of commercial and governmental clients across Asia, the Middle East, and Africa. Upon the deal completion, subject to customary regulatory approvals and closing conditions, the Colombo Dockyard will become a subsidiary of MDL.
