Nikkei Average Notches Record Intraday High in Morning

Tokyo, April 27 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average reached a new record intraday high on Monday morning, led by gains in technology stocks. At 10:04 a.m., the index of 225 issues listed on the Tokyo Stock Exchange’s Prime top-tier section stood at 60,348.83, up 632.65 points, or 1.06 pct, from Friday, surpassing the previous intraday high of 60,013.98 logged on Thursday. Investors stepped up buying of semiconductor and artificial intelligence-related issues after the tech-heavy U.S. Nasdaq Composite Index closed at a record high on Friday. This week, earnings reports are due from chip and AI firms in both Japan and the United States, and expectations for strong results are also encouraging buying, an investment advisory firm official said. Meanwhile, a Japanese bank official cautioned, “Buying is narrowly concentrated in high-priced shares and is unlikely to be sustainable.” END [Copyright The Jiji Press, Ltd.]