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November 23, 2005

Nikkei boosted by strong tech sector

Japanese shares index the Nikkei has approached a near five-year high thanks to the surging popularity of technology stocks.

By CBR Staff Writer

The Nikkei closed the day at 14,742.58 on November 23, marking the index’s highest finish in close to five years. The prospect was not so bright for the broader Topix index, however, which declined by 0.6% at close.

The healthy boom in technology stocks is attributed to an increasing confidence in the sector, with the most impressive rises among the bigger chip-related companies such as Advantest and Tokyo Seimitsu, which made gains of 10% and 9%, respectively.

Thriving shares can only serve to bolster the technology industry and, as long as it can maintain investor confidence, this sector will reciprocally strengthen the Nikkei.

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