TOKYO (AP) – Tokyo’s benchmark share index rose modestly Tuesday, its first advance in three sessions on late gains by technology shares. The U.S. dollar was higher against the Japanese yen.
The Nikkei Stock Average of 225 selected issues on the Tokyo Stock Exchange rose 55.93 points, or 0.54 percent, to end at 10,332.57. On Tuesday, the index fell 4.53 points, or 0.04 percent.
The dollar was trading at 117.78 yen on the Tokyo foreign exchange market by late afternoon Tuesday, up 0.22 yen from late Monday and above the 117.32 yen it bought in New York. The currency traded between 117.18 yen and 117.79 yen in Tokyo.
The Nikkei drifted lower during the morning following a pullback on Wall Street, where the Dow Jones industrial average slipped 0.6 percent and the Nasdaq composite average fell 0.1 percent in trading Monday.
But the blue-chip index moved into positive territory during the last hour of trading as global hedge funds snapped up technology shares, traders said.
Foreign institutional investors were apparently influenced by a recent brokerage report suggesting earnings prospects may be brightening for chipmakers and their suppliers, they said.
Chip-related gainers included Advantest, Tokyo Electron and Kyocera.
Other advancers included Sumitomo Metal Industries, up 5.8 percent to 109 yen, and Nippon Steel, up 5.1 percent at 228 yen, after being two of the most actively traded shares in volume.
The broader Tokyo Stock Price Index rose 3.94 points, or 0.39 percent, to finish at 1,001.74. The index, which includes more than 1,000 of Japan’s largest companies, fell 6.40 points, or 0.63 percent, on Monday.
Volume on the first section was estimated at 1.529 billion shares. Advancers edged over decliners 691 to 652, while 179 issues were unchanged from Monday.
In other currency trading, the euro was lower against the dollar and yen. It bought $1.0844, down from $1.0900 Monday. Against the yen, the euro was at 127.63 yen, down from 128.05 yen.
The yield on the benchmark 10-year bond rose to 1.4450 from 1.3400 percent Monday. Its price fell 0.88 points to 96.17.
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