Nikkei Average Tops 34,000 for 1st Time Since 1990 (UPDATE1)
![](https://japannews.yomiuri.co.jp/wp-content/uploads/2023/11/JPX-1107.jpg)
Tokyo Stock Exchange
10:15 JST, January 10, 2024 (updated at 12:00 JST)
TOKYO, Jan. 10 (Jiji Press) — Japan’s key Nikkei 225 stock average gained over 600 points Wednesday morning to recover 34,000 for the first time since March 1990.
Japanese stocks, especially high-tech names, attracted buying on rosy expectations reflecting higher corporate earnings, market sources said.
The Nikkei average finished the morning at 34,386.79, up 623.61 points, or 1.85 %, from Tuesday.
In the U.S. market Tuesday, artificial intelligence semiconductor powerhouse Nvidia Corp. rewrote its all-time high, sparking buying of chip and other related stocks in Japan on Wednesday, the sources said.
Also behind the strength were the yen’s weakness against the dollar and stock futures buybacks, according to the sources.
"Business" POPULAR ARTICLE
-
Aviation Fuel Shortage Causes Problems at Regional Airports; Growing Demand, Lack of Workers to Transport
-
Prices of over 10,000 Food and Beverage Items to Rise This Year; Figure is down from over 30,000 Last Year
-
Sony Group to End Production of Blu-ray Discs; Market Has Shrunk Due To Growth Of Hard Disk Drives, Streaming
-
AI-Equipped Energy Efficient Air Conditioners Grow In Popularity; Some Can Guess Users’ Moods, Automatically Adjust Temperature
-
Toyota to Introduce 4-Day Workweek for Some Employees; Company Hopes More Flexible Schedules Will Boost Worker Motivation
JN ACCESS RANKING