TOKYO (Kyodo) — Tokyo stocks surged to fresh intraday all-time highs on Friday morning, tracking record gains on Wall Street fueled by optimism over the U.S. economy after the Federal Reserve’s decision earlier this week to cut its benchmark interest rate.
The 225-issue Nikkei Stock Average jumped 348.65 points, or 0.77 percent, from Thursday to 45,652.08, marking a second straight day of intraday records. The broader Topix index also climbed 21.94 points, or 0.69 percent, to 3,180.81.
Currency markets were steady, with the U.S. dollar hovering around the 148 yen level amid limited trading cues. At noon in Tokyo, the dollar traded at 147.99–148.00 yen, compared with 147.95–148.05 in New York and 147.11–13 in Tokyo late Thursday. The euro stood at $1.1779–1780 and 174.32–34 yen.
Market sentiment was buoyed by expectations of continued U.S. economic support from additional Federal Reserve rate cuts. Technology and semiconductor shares led gains, mirroring the rally in the tech-heavy Nasdaq index. Nvidia Corp. announced on Thursday it would invest $5 billion in Intel Corp. to support the struggling chipmaker and jointly develop advanced chips for computers and data centers, boosting investor confidence in the sector.
