Nikkei 225 Exceeds 54,000 for 1st Time

Tokyo, Jan. 14 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average continued rising to exceed 54,000 for the first time on Wednesday morning. The index of 225 select issues listed on the Tokyo Stock Exchange’s Prime section hit 54,396.97 at 10:08 a.m., up 847.81 points, or 1.58 pct, from Tuesday. With Japanese Prime Minister Sanae Takaichi considering dissolving the House of Representatives, there are persistent expectations that her ruling Liberal Democratic Party and its partner, the Japan Innovation Party, will increase their seats in the all-important Lower House in a snap general election, helping her administration realize its expansionary fiscal policy, market sources said. Stocks in a wide variety of industries were hunted on such expectations, the sources said. Semiconductor-related issues heavily weighted in the Nikkei average rose sharply after their U.S. peers gained ground overnight. The yen’s weakening against the dollar also warmed up investor sentiment. In Tokyo currency trading Wednesday, the dollar came to 159.20-21 yen at 10 a.m., up from 158.95-95 yen at 5 p.m. Tuesday. END [Copyright The Jiji Press, Ltd.]