Tokyo stocks end higher on chip shares, dip-buying

TOKYO, Nov. 22 (Xinhua) — Tokyo stocks closed higher on Friday, led by solid gains in heavyweight semiconductor-related shares following rises on Wall Street overnight, while buying on dips also supported the market.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 257.68 points, or 0.68 percent, from Thursday at 38,283.85.
The broader Topix index, meanwhile, finished 13.72 points, or 0.51 percent, higher at 2,696.53.
Stocks were in positive territory throughout the day, led by heavyweight semiconductor issues, following gains on all three major U.S. indexes overnight after U.S. chip giant Nvidia Corp.’s earnings report was digested without any major volatility, analysts said.
The market was also supported by buybacks in oversold sectors after the benchmark Nikkei briefly fell below the 38,000 yen line the previous day. ■