Asian stock markets closed mixed on Friday, with the key index in Tokyo rising to a 21-month high following gains on Wall Street.
Tokyo's Nikkei Stock Average of 225 issues rose 239.74 points, or 2.08 percent, to 11,770.65 -- its highest close since June 3, 2002, when it ended at 11,901.39. On Thursday, the index gained 165.92 points, or 1.46 percent.
The Nikkei surged after big gains by US technology shares on Wall Street prompted investors to buy their Japanese counterparts.
Among strong gainers in Tokyo were technology blue chips Sony, NEC and Hitachi, as well as Matsushita Electric and Advantest.
Overnight in New York, the Dow Jones industrial average rose 170.59 points, or 1.7 percent, to 10,218.82, while the Nasdaq composite index soared 57.69 points, or 3.0 percent, to 1,967.17.
In currency trading, the US dollar was quoted at 105.69 yen, down 0.27 yen from late Thursday, and below the 106.17 yen it bought in New York later that day.
Taiwan shares closed lower on concerns that a planned weekend protest over the disputed presidential election could further complicate the controversy, traders said.
The Weighted Price Index of the Taiwan Stock Exchange fell 24.11 points, or 0.4 percent, to 6,132.62.
In Hong Kong, the blue-chip Hang Seng Index slipped 36.97 points, or 0.29 percent, to 12,483.24. On Thursday, the index lost 157.92 points, or 1.25 percent.
Share prices opened higher following Thursday's gains on Wall Street, but late profit-taking pushed the key index into negative territory on concerns about the political turmoil in Taiwan, traders said.
In Singapore, shares closed mixed as late profit-taking prompted by caution ahead of the weekend erased early gains. The Straits Times Index fell 3.29 points, or 0.2 percent, to 1,827.11.
In Wellington, New Zealand shares closed higher. The benchmark NZSX-Gross Index rose 27.86 points, or 1.09 percent, to 2,575.62.
In Manila, Philippine shares closed slightly lower. The 30-company Philippine Stock Exchange Index fell 2.20 points, or 0.2 percent, to 1,390.92.
In Sydney, Australian shares closed higher following gains on Wall Street. The All Ordinaries Index rose 28.50 points, or 0.84 percent, to 3,424.20.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.