TOKYO, Dec. 11 (Xinhua) -- Tokyo stocks rose for a third consecutive day on Wednesday as buying in financial, insurance, and heavy industry stocks supported the market.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed the day at 39,372.23, up 4.65 points, or 0.01 percent from the previous trading day.
Financial and heavy industry stocks led the gains after data showed the country's producer prices rose 3.7 percent year-over-year in November, exceeding market expectations of 3.4 percent and marking the fastest growth since July 2023.
The data fueled speculation that the Bank of Japan might announce additional rate hikes in its upcoming monetary policy meeting, benefiting banking stocks.
In contrast, semiconductor stocks, including Advantest, Tokyo Electron, and Disco, faced heavy losses.
The Tokyo Stock Price Index (TOPIX) also rose for the third straight session, closing up 7.90 points, or 0.29 percent, at 2,749.31.
On Tokyo Stock Exchange's Prime section, advancers outnumbered decliners with 823 rising stocks, 750 falling, and 71 unchanged. ■
