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Nikkei 225 Jumps Over 2,200 Points as Japan Stocks Rally on Chip Surge
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
The Nikkei 225 surged more than 2,200 points in early trading, breaking above the 65,000 level as Japanese equities tracked a strong rally in U.S. semiconductor stocks. Technology and chip-related companies, including Advantest, SoftBank Group, Tokyo Electron, Kioxia, TDK, Murata Manufacturing, and Ibiden, led the gains after the Philadelphia Semiconductor Index jumped 6.55% overnight. Meanwhile, the Japanese yen remained supported following coordinated U.S.-Japan intervention, while expectations of further Bank of Japan rate hikes kept 10-year Japanese government bond yields near multi-year highs.
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