The Japanese Nikkei index continued its gains for the second consecutive session on Thursday, as the decline of the yen boosted the shares of export companies, outweighing the impact of some profit-taking by investors. The Nikkei rose by 0.12 percent to close at 33,234.14 points after jumping one percent earlier in the session. However, the broader Topix index fell by 0.1 percent to 2,296.25 points.
Nissan Motor's shares jumped by 4.17 percent after the yen fell to its lowest level in seven months, increasing the value of the company's overseas sales. Competitor Suzuki Motor's shares rose by 3.41 percent. SoftBank Group’s shares increased by 1.31 percent after the Nikkei reported that its telecommunications unit would invest 20 billion yen (138.29 million dollars) to develop a generative artificial intelligence system.
Shares of Tokyo Electron and Advantest, chipmakers, soared by more than 2.5 percent. The yen fell to 144.62 against the dollar on Wednesday for the first time since November 10, approaching the level that prompted government intervention last year to support the currency.
