Tech Shares Boost Asian Stock Markets in Holiday-Thinned Trading

MT Newswires Live
Yesterday

Asian stock markets tracked higher in holiday-thinned trading Thursday, led by tech shares after bellwether US-based memory-chip maker Micron Technology (MU) released robust fiscal Q4 earnings and guidance late Wednesday.

Blunting sentiment, Brent crude prices rose 2.4% to $100.44 during Asian market hours.

Tokyo finished in the green, as did most other regional exchanges, while trading floors in Hong Kong and mainland China were dark on holiday.

In Japan, the Nikkei 225 finished up 3.3% as traders went into risk-on mode on tech-sector issues.

The benchmark Nikkei 225 rose 2,203.00 to 68,956.72, although losing issues outnumbered gainers 115 to 106.

Leading the upside was semiconductor manufacturing equipment maker Lasertec, up 11.1%, while oil company Idemitsu Kosan declined 4%.

In economic news, the sentiment index for large manufacturers rose to 24 in Q3 from 22 in Q2, its highest reading since Q1 2018, reported the Bank of Japan.

On the other regional exchanges, the S. Korean KOSPI rose 2%; the Taiwan TWSE advanced 0.9%; the Australian ASX 200 declined 2%; the Singapore Straits Times Index fell 0.1%, and the Thai SET rose 0.3%.

In Mumbai, the Sensex was down 0.7%.

The MSCI All Country Asia Pacific Index rose 0.1% on the day.

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