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TOKYO, July 7 (Reuters) – Japanese stocks closed higher on Thursday as investors continued to look for battered tech stocks, with sentiment supported by Wall Street’s overnight gains.
The average Nikkei inventory rose 1. 47% to 26,490. 53 and the broader Topix rose 1. 42% to 1,882. 33.
Wall Street closed higher overnight as investors digested new clues about the U. S. central bank’s policy rates. The U. S. Food and Drug Administration and its fight against inflation detailed in the minutes of the Federal Reserve’s most recent meeting.
“There are no more surprises in the Fed minutes,” said Shogo Maekawa, global market strategist at J. P. Morgan Asset Management.
“Recent economic knowledge in the U. S. The U. S. has also erased considerations about economic uncertainties. “
Chipmaker Tokyo Electron rose 1. 9 percent and the biggest boost for the Nikkei, followed by robot maker Fanuc, which rose 3. 75 percent. Air conditioner maker Daikin Industries rose 2. 81%.
KDDI rose 1. 95 percent as the cellular operator’s networks returned to normal after a national formula outage that affected some 40 million users this week.
Aeon jumped 9. 88% to the more sensible nikkei after posting a record quarterly profit.
Sumitomo Mitsui Trust Holdings rose 1. 34% after announcing a $1500 million investment in the budget controlled through Apollo Global Management.
Travel and recreation stocks were low, with airlines and railways falling 0. 52% and 0. 36% respectively, amid emerging COVID-19 cases worldwide.
The Takashimaya department store chain, the biggest loser in the Nikkei, fell 2. 69%, followed by its peers J. Front Retailing Co, which fell 2. 28%, and Isetan Mitsukoshi Holdings lost 1. 99%.
There were 183 gains in the Nikkei index against declines.
The volume of inventories traded on the main board of the Tokyo Stock Exchange $1310 million, compared to an average of $1310 million over the past 30 days. (Reported via Junko Fujita; edited via Uttaresh. V)