Japanese shares end higher on chip gains, earnings outlook

Business Recorder reported that Japanese equities finished higher on Thursday, with the Topix closing at a record 4,176.04 after a 0.86 per cent gain. The benchmark Nikkei added 1.16 per cent to end at 68,308.59. The Topix has now risen for seven consecutive sessions.

Chip stocks led the gains after US benchmarks closed higher the previous session, buoyed by encouraging quarterly figures from CoreWeave and rival AI infrastructure companies. The PHLX Semiconductor Index climbed roughly 2.5 per cent. Advantest, which makes chip-testing equipment, added 4.02 per cent, while Ibiden gained 5.27 per cent and Murata Manufacturing jumped 10.25 per cent.

Toppan Holdings rose 10.78 per cent to top the Nikkei's gainers after its first-quarter net profit more than doubled year on year. Banks also advanced, with Mitsubishi UFJ Financial Group and Mizuho Financial Group each up nearly 3 per cent. Strategist Kazuaki Shimada of IwaiCosmo Securities said that in their first-quarter reports, roughly 18 per cent of Topix companies lifted recurring profit guidance while 2 per cent lowered it. He said buying had spread to both value and growth shares, which he linked to a solid corporate outlook.