Nikkei closes up 433.24 points as chip stocks surge on strong earnings

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The Nikkei index on the Tokyo stock market closed up 433.24 points, after semiconductor and artificial intelligence stocks rose on strong earnings from Advantest Corp, which were released after the market close on Wednesday. The index closed at 61,867.43 points, up 0.71%, with Advantest shares soaring 10.8% to close at 27,935 yen. Although the market opened under pressure from Middle East tensions that pushed WTI crude oil prices above 80 dollars per barrel, an analyst from Dai-ichi Life Research Institute warned that it may be too early to conclude that the sell-off is over, as the index had plunged nearly 3,500 points in the previous two trading days.

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