Nikkei Index Rebounds Above 40,000 Yen as Semiconductor Stocks Surge

TOKYO, Jan 07 (News On Japan) - During Tuesday morning's session, the Nikkei temporarily rebounded above the 40,000 yen mark, a level last seen on December 30th, the final trading day of last year.

On January 7th, the Nikkei saw strong buying in semiconductor-related stocks, following gains in high-tech stocks in the New York market.

This marked a rebound after three trading sessions since the end of last year. At one point, the index rose by more than 800 yen, climbing back above 40,000 yen.

In the foreign exchange market, U.S. long-term interest rates rose, prompting investors to buy the dollar, considered a more favorable investment, while selling the yen.

As a result, the yen hovered in the lower 158 yen range against the dollar, the weakest level since July last year.

Source: ANN

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