Nikkei Tops 59,000 for First Time

Yomiuri Shimbun file photo
The Tokyo Stock Exchange

Tokyo, Feb. 26 (Jiji Press)—Japan’s benchmark Nikkei 225 stock average exceeded 59,000 for the first time ever to rewrite its all-time intraday high Thursday morning, boosted by higher U.S. equities overnight.

At 9:05 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section stood at 59,332.43, up 749.31 points, or 1.28 pct, from Wednesday, when the previous intraday high of 58,875.17 was marked.

The broader TOPIX index on the TSE also reached a record intraday high, topping 3,900.

Semiconductor-related issues attracted hefty purchases following the release of U.S. chip giant Nvidia’s strong earnings report Wednesday, which helped bolster Wall Street stocks.

The Tokyo market maintained its bullish tone also because expectations for an early interest rate hike by the Bank of Japan receded after the Japanese government on Wednesday nominated two academics considered to be reflationists as members of the central bank’s Policy Board.