Tokyo stocks were mixed Thursday morning, as heavyweight technology shares were bought while profit-taking emerged after the Nikkei hit a new 34-year intraday high.
The 225-issue Nikkei Stock Average rose 245.03 points, or 0.65 percent, from Wednesday to 37,948.35. The broader Topix index was down 2.69 points, or 0.10 percent, at 2,581.90.
The U.S. dollar weakened slightly to the lower 150 yen range in Tokyo. The U.S. currency was sold as prospects of interest rates staying high for longer were eased by a Federal Reserve official's remarks that the central bank is on track to its inflation target despite the higher-than-expected January consumer price index.
At noon, the dollar fetched 150.25-28 yen compared with 150.56-66 yen in New York and 150.44-46 yen in Tokyo at 5 p.m. Wednesday.
The euro was quoted at $1.0727-0731 and 161.17-27 yen against $1.0722-0732 and 161.51-61 yen in New York and $1.0707-0708 and 161.08-12 yen in Tokyo late Wednesday afternoon.
The Nikkei benchmark briefly hit 38,127.85, an intraday high since January 1990, in early trading before moving narrowly around the psychologically important 38,000 line as some participants locked in gains after recent surging rises.
"That the Nikkei has been able to stay steady just two days after it gained around 1,000 points showed its base remains strong," said Makoto Sengoku, senior equity market analyst at the Tokai Tokyo Research Institute.
