Posted 3/29/2024, 8:27:46 AM
Nikkei Soars to Record Yearly Gain on Chip Stock Rally, Weak Yen
- Nikkei index in Japan ended higher on Friday, driven by gains in chip stocks like Tokyo Electron and Advantest
- Nikkei posted a record 12,328-point gain this fiscal year amid heavy foreign buying
- Rally supported by weak yen and expectations that Bank of Japan will maintain loose monetary policy
- Property sector jumped almost 2% on Friday, adding 16% this month due to survey showing land prices rose at fastest pace in 33 years
- Broader Topix index also closed higher on Friday
