Nikkei briefly tops 70,000 for 1st time since July
TOKYO (Kyodo) -- The Nikkei stock index briefly topped the 70,000 line on Monday for the first time since early July, led by heavyweight technology sh
The Nikkei stock index reached a milestone on Monday, briefly surpassing the 70,000 mark for the first time since early July. The surge was driven by heavyweight technology shares, as expectations of a U.S. Federal Reserve rate hike began to fade. The 225-issue Nikkei Stock Average climbed 1,637.40 points, or 2.40 percent, to close at 69,946.86.
The broader Topix index also gained, rising 54.22 points, or 1.33 percent, to 4,145.22. Among the top-tier Prime Market gains were electric appliance, glass and ceramics product, and chemical issues. Meanwhile, the U.S. dollar traded mostly near 157 yen in Tokyo, briefly touching 158 yen. The Nikkei's technical trend had shifted, moving out of its recent downward trajectory, according to Wataru Akiyama, a strategist at Nomura Securities Co. The index had dipped below the 70,000 line later in the day after initially topping it in morning trading.
Some investors chose to sell after reaching the threshold to secure their gains. Prime Minister Sanae Takaichi's policy speech in the afternoon did not cause significant market turbulence as her remarks aligned with market expectations.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
