Nikkei rebounds as chipmakers and shippers lead rally

Japan’s Nikkei 225 index (Symbol: Nikkei225) rebounded from a three-week low in the previous session, as chip-sector stocks triggered an overnight rally. The Nikkei ended the morning session high, poised to snap a four-day losing streak that pulled the benchmark index as low.

The index rose but failed to sustain the psychological 40,000 mark. The Nikkei’s three biggest points advancers were all chip-related stocks led by chip-testing equipment maker and Nvidia supplier Advantest gained, followed by chip-making machinery giant Tokyo Electron with rise. Shares of silicon processor Shin-Etsu Chemical were up.

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