Nikkei Tops 68,000 for 1st Time; Dollar Rises to 160 Yen

Tokyo, June 3 (Jiji Press)--Japan's benchmark Nikkei 225 stock average surged to top 68,000 for the first time ever Wednesday, thanks to buying of issues related to artificial intelligence and semiconductors.

The index of 225 selected issues listed on the Tokyo Stock Exchange's Prime section closed at 68,402.13, up 1,667.89 points, or 2.49 pct, from Tuesday.

The broader TOPIX index ended 71.96 points, or 1.83 pct, higher at 3,996.20, after briefly exceeding 4,000 for the first time.

All major U.S. stock indexes rose Tuesday amid growing expectations for a further increase in AI demand reflecting strong earnings reports from major U.S. information technology firms.

Following the U.S. market strength, buying took the upper hand from the outset of Tokyo stock trading Wednesday. The Nikkei maintained high levels despite upward pressure tapering off in the afternoon, with an official at a midsize securities firm explaining, "Although there is profit-taking, some investors are buying on dips, preventing the market from falling sharply."

[Copyright The Jiji Press, Ltd.]