Japanese markets eked out modest gains

Japanese markets eked out modest gains to end at over four-month high. The Nikkei average rose 0.39 percent to 38,942.07, with chip-related stocks like Advantest and Tokyo Electron surging more than 3 percent each. The broader Topix index closed little changed with a positive bias at 2,782.24.

Olympus Corp plummeted 10.6 percent after the U.S. Food and Drug Administration (FDA) issued alerts to stop imports of certain medical devices made by the company in Japan.

Producer prices in Japan were up 3.3 percent on year in May, the Bank of Japan said on Tuesday. On a monthly basis, producer prices dipped 0.1 percent after rising 0.7 percent in the previous month.

 

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