Nikkei hits 34-yr high on weaker yen, gains eased by profit-taking

Economy

Tokyo stocks rose Wednesday morning, with the Nikkei index briefly surging over 600 points to a new 34-year intraday high on buying of exporters on a weaker yen, before gains were trimmed by profit-taking.

The 225-issue Nikkei Stock Average rose 191.17 points, or 0.54 percent, from Tuesday to 35,810.35. The broader Topix index was up 14.75 points, or 0.59 percent, at 2,518.73.

The U.S. dollar briefly climbed to a one-month high in the mid-147 yen range in Tokyo on receding prospects of an interest rate cut in March by the Federal Reserve after a senior Fed official said the central bank should...

Kyodo News

Kyodo News