FX.co ★ Nikkei Closes at 2-Week High

On Thursday, the Nikkei 225 advanced by 0.6%, closing at 39,901, while the broader Topix increased by 0.7% to reach 2,840. This marked a reversal from their early losses and a recovery from the slight dip experienced the previous session. The benchmark index reached its highest level in two weeks, influenced by overnight gains on Wall Street after US President Donald Trump refuted any intentions to remove Federal Reserve Chair Jerome Powell. Investors also assessed Japan's recent trade figures, which revealed a decline in exports to the U.S. and China, although this was balanced by substantial increases in shipments to the EU, ASEAN, and Russia. Nonetheless, the market's upside potential remained restrained due to rising apprehension ahead of Japan's forthcoming Upper House election. Technology stocks were at the forefront of the rise, with NEC Corp gaining 4.6% and LY Corp increasing by 3.4%. Sumco emerged as the top performer, soaring 7.0%, followed by Socionext at 6.4% and CyberAgent at 5.1%. Conversely, Seven & i Holdings saw a sharp decline of 9.2% following the withdrawal of a USD 47 billion acquisition bid by Canada's Alimentation Couche-Tard.