Stocks

Nikkei soars helped by exporters; drugmakers fall

Reuters Tokyo | Updated on January 18, 2018 Published on January 18, 2018

Japanese chip making equipment manufacturers jumped. File Photo   -  Reuters

The Nikkei rose 0.4 per cent to 23,962.11 in midmorning trade

Japan's Nikkei share average soared to a level not seen since November 1991 on Thursday morning after exporters such as electronics components manufacturers surged, tracking the strength on Wall Street overnight. The Nikkei rose 0.4 per cent to 23,962.11 in midmorning trade, after hitting 24,084.42, the highest level since November 1991.

US stocks jumped on Wednesday as investors' expectations for higher earnings lifted stocks across sectors. Japanese chip making equipment manufacturers jumped, with Advantest surging 5 per cent and Tokyo Electron soaring 3.4 per cent.

Electronic components makers Kyocera surged 1.3 per cent, TDK soared 2.5 per cent and motor maker Nidec advanced 1.9 per cent. Drugmakers, on the other hand, lost ground, with Eisai falling 1.7 per cent and Astellas Pharma sliding 1.3 per cent. The broader Topix, however, shed 0.1 per cent to 1,889.62.

Published on January 18, 2018
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