Tokyo stocks rose Thursday morning, led by some heavyweight technology shares, as their U.S. counterparts moved higher overnight on Wall Street to lift market sentiment.
The 225-issue Nikkei Stock Average rose 454.99 points, or 0.80 percent, from Wednesday to 57,598.83. The broader Topix index was up 38.31 points, or 1.01 percent, at 3,845.56.
The U.S. dollar strengthened to the 155 yen line in Tokyo after firming against major currencies overnight following the release of Federal Reserve meeting minutes that mentioned the possibility of a rate hike if inflation continues, dealers said.
At noon, the dollar fetched 155.00-01 yen compared with 154.77-87 yen in New York and 153.66-69 yen in Tokyo at 5 p.m. Wednesday.
The euro was quoted at $1.1790-1792 and 182.75-79 yen against $1.1777-1787 and 182.41-51 yen in New York and $1.1834-1835 and 181.86-90 yen in Tokyo late Wednesday afternoon.
On the stock market, Tokyo Electron and Shin-Etsu Chemical were notable gainers after the rise of U.S. counterparts due to hopes for an expansion of the artificial intelligence market, brokers said.
The market was also supported by rises in cyclical shares, such as those in the energy and finance sectors, deemed sensitive to economic fluctuations, while the yen's rapid weakening against the dollar lifted export-related shares.
==Kyodo
© Kyodo News International, Inc., source Newswire
