Japan Nikkei extends gain; Energy leads rally

6 Oct 2022 , 04:04 PM

Japanese share market finished session modestly higher on Thursday, 06 October 2022, extending gains for fourth consecutive day, lifted by energy and chip-related stocks. However, market gains were capped amid caution ahead of a monthly U.S. jobs report on Friday. At closing bell, the 225-issue Nikkei Stock Average index surged 776.42 points, or 2.96%, to 26,992.21. The broader Topix index of all First Section issues on the Tokyo Stock Exchange spurted 59.31 points, or 3.21%, to 1,906.89. Shares of energy companies advanced after crude oil prices surged in reaction to the OPEC and non-OPEC partners decision to cut supply by 2 million barrels per day (bpd), which is equal to 2% of the global supply. Among energy shares, refiner Idemitsu Kosan rose 0.9%, while explorer Inpex jumped 2%. Shares of chip maker advanced on following gains in the U.S. Philadelphia SE Semiconductor Index overnight. Among chip maker shares, Tokyo Electron rallied 2.8% and peer Advantest jumped 2.9%. Kyocera, an electronics maker, for its part, added 1.1%. CURRENCY NEWS: The U.S. dollar traded in the upper 144 yen range on Thursday. At 5 p.m., the dollar fetched 144.57-60 yen compared with 144.63-73 yen in New York and 144.44-46 yen in Tokyo at 5 p.m. Wednesday. Powered by Capital Market – Live News