Nikkei Rises 2.26% in Mid-session on Bargain Hunting

Nikkei Rises 2.26% in Mid-session on Bargain Hunting

The main index of the Tokyo Stock Exchange, the Nikkei , rose 2.26% at the end of the session this Monday, after investors took to purchases in the sector of chips and electronics after the previous steep decline.

In the half session, the Nikkei, which groups the 225 most representative titles in the market, rose 655.25 points, to 29,621.26 integers.

The Topix , which includes the firms in the first section, those with the highest capitalization, added 1.71% or 31.82 points, to stand at 1,896.31 units.

The Tokyo market opened higher and gained momentum in the first minutes of the negotiation, which was maintained for the rest of the morning.

Investors today opted to buy back shares linked to the technology sector after last Friday’s 3.99% drop, the steepest in points (1,202.26) since June 2016, motivated by fears of stock market volatility after the recent strong increased yield on US government bonds.

The machinery, electronic devices and information and communication sectors accumulated the main gains during the first leg of the session in Tokyo.

The Softbank group (T: 9984 ) accumulated the highest volume of operations in the mid-session, in which its shares rose 4.95%.

It was followed by transactions by the textile company Fast Retailing (T: 9983 ), owner of the chain of clothing stores Uniqlo, which advanced 2%; and the video game developer and distributor Nintendo (T: 7974 ), whose shares increased by 1.03%.

Tech Sony (T: 6758 ) rose 2.51% and chipmaker Tokyo Electron (T: 8035 ), 3.32%.

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