Tech sector leads Nikkei rally after Brexit relief
Friday, 18 October 2019 10:13 WIB | MARKET UPDATE |IndeksNikkei 225IndeksTopixSaham Jepang

Japanese shares inched higher on Friday after high-tech companies jumped on upbeat earnings from Taiwan's TSMC while the overall sentiment was also underpinned after the European Union and Britain struck a severance deal.

The Nikkei share average rose 0.77% to 22,624.60, jumping above Tuesday's high to hit a 10 1/2-month high while the broader Topix gained 0.39% to 1,630.52.

The Nikkei extended gains after China's industrial output beat market expectations, somewhat easing worries about manufacturing slowdown in China in the wake of Sino-U.S. trade war, albeit the figures comprised one economic data point only.

The tech sector led gains after Taiwan Semiconductor Manufacturing Co (TSMC) on Thursday raised its 2019 capital spending plan by up to $5 billion and forecast a nearly 10% rise in fourth-quarter revenue on strong demand for faster mobile chips and new high-end smartphones.

Source : Reuters

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