Nikkei Stock Average Hits All-Time Closing High

Tokyo, Sept. 22 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average hit an all-time closing high on Monday, partly aided by buying focused on semiconductor-related issues after their U.S. counterparts’ strong performances late last week. The key index for the Tokyo Stock Exchange’s top-tier Prime section ended up 447.85 points, or 0.99 pct, from Friday at 45,493.66, exceeding its previous record closing high of 45,303.43 marked on Thursday. The Tokyo market was also supported by “continued hopes for domestic policies, such as a possible expansionary fiscal policy,” an official at a midsize securities firm said of Monday’s start of the campaign period for the leadership election of the Japanese ruling Liberal Democratic Party. In interdealer trading in Tokyo on Monday, the yield on the newest issue of 10-year Japanese government bonds, regarded as the country’s benchmark long-term interest rate, rose as high as 1.665 pct, the highest level since July 2008. JGBs came under selling on the back of speculation about an interest rate increase by the Bank of Japan, market sources said. END [Copyright The Jiji Press, Ltd.]