Semiconductors gain on Dainippon orders increase

e14news — Thu, 07 Oct 2021 08:22:15 GMT

Current Revision posted to Documents by e14news on 10/7/2021 8:22:15 AM
The Nikkei exchange in Japan saw gains among manufacturers of semiconductors this week following positive financial updates from one firm in the sector, reports Reuters.

Dainippon saw the value of orders for its semiconductors rise by almost a third between October and December, its latest complete reporting quarter.

The 32 per cent rise in order values translated into an increase of 4.4 per cent in its price on the Nikkei, taking it to 734 yen (£5.64) on Tuesday, January 25th.

Other semiconductor firms also saw positive sentiment from investors in response to the news, including gains for Nikon, according to an unnamed trader speaking to Reuters.

Hiroichi Nishi, general manager at Nikko Cordial Securities, noted the general upward trend in the market on the day.

"Japan shares are likely to gain further after investors confirm positive earnings results," the analyst suggested.

However, there is evidence to suggest investors are nervous ahead of earnings reports, with Reuters reporting a 0.6 per cent fall in the Nikkei's value in Wednesday trading.

Posted by Andre Dixon