Tokyo stocks rise in morning on firm chip shares
TOKYO (Kyodo) -- Tokyo stocks rose Thursday morning, boosted by semiconductor-related shares after their U.S. counterparts advanced overnight on hopes for robust demand for artificial intelligence.
The 225-issue Nikkei Stock Average rose 407.78 points, or 1.05 percent, from Wednesday to 39,349.85. The broader Topix index was up 7.76 points, or 0.28 percent, at 2,790.00.
The U.S. dollar weakened to the upper 144 yen zone in Tokyo after a report that U.S. President Donald Trump could name early his candidate to succeed Federal Reserve Chair Jerome Powell, with the president urging the central bank to cut interest rates.
At noon, the dollar fetched 144.68-69 yen compared with 145.21-31 yen in New York and 145.30-33 yen in Tokyo at 5 p.m. Wednesday.
The euro was quoted at $1.1689-1693 and 169.12-19 yen against $1.1655-1665 and 169.27-37 yen in New York and $1.1598-1600 and 168.54-58 yen in Tokyo late Wednesday afternoon.
The Nikkei stock index climbed above the 39,000 line for the first time since Feb. 19 on an intraday basis following the overnight advance of the tech-heavy U.S. Nasdaq index.
Nikkei heavyweight semiconductor issues attracted buying after shares of U.S. technology giant Nvidia Corp. hit a new record high, with chip testing equipment maker Advantest also climbing to a record high.
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