Japan’s Nikkei soars 450 points at closing bell
Stock markets in Japan and Australia saw gains at the end of Wednesday’s session as coronavirus-related concerns eased and new hopes for the chip industry emerged with the latest report from Asia.
As the earnings season continued, the Chinese government reportedly revealed a plan to strengthen cooperation with foreign companies that produce semiconductor chips in order to address long-present chip shortages.
The Lunar New Year holiday continued in South Korea and China, keeping markets closed. Japan’s Nikkei 225 surged 1.68% or 455 points at the close, while Australia’s S&P/ASX 200 gained 1.17% at its closing bell. The dollar traded unchanged against the yen to sell for 114.7410 at 7:38 am CET.
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