TOKYO, Jan 14 (Reuters) - Japan's benchmark Nikkei stock average hit a fresh three-decade high on Thursday, extending gains into a fifth day as technology shares tracked a surge in U.S. chipmaker Intel Corp and better-than-expected core machinery orders data lifted sentiment.
"The upward market trend is prompting investors to buy more stocks. Investors are buying stocks out of this 'fear of missing out' sentiment," said Takashi Hiroki, chief strategist, Monex Securities.
Chip-related shares led the gains, tracking a 7% jump in Intel INTC.O shares after the company said it would replace its chief executive officer and that it expected to beat its financial forecast for the fourth quarter. Corp 6857.T gained 2.99% and Tokyo Electron 8035.T rose 0.63%.
Other tech-related shares also rose after data showed Japan's core machinery orders unexpectedly rose for a second straight month in November. Manufacturing Co 6981.T rose 2.85%, while Yaskawa Electric 6506.T jumped 5.65 Fanuc Corp 6954.T climbed 1.2%, while SoftBank Group 9984.T rose 3.45%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.