Tokyo stocks rose Friday morning, with the Nikkei index hitting a new 34-year high to move closer to an all-time record, led by firm technology shares after Wall Street advances overnight.
The 225-issue Nikkei Stock Average gained 347.95 points, or 0.91 percent, from Thursday to 38,505.89. The broader Topix index was up 32.68 points, or 1.26 percent, at 2,624.53.
The U.S. dollar rose to the lower 150 yen range in Tokyo, as traders sold the Japanese currency, seen as a safe-haven asset, following early-morning surges in stocks, dealers said.
At noon, the dollar fetched 150.27-30 yen compared with 149.86-96 yen in New York and 150.20-21 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0759-0763 and 161.69-76 yen against $1.0768-0778 and 161.46-56 yen in New York and $1.0733-0734 and 161.22-26 yen in Tokyo late Thursday afternoon.
Stocks shot up in early trading, with the Nikkei gaining over 700 points and moving closer to the all-time intraday high of 38,957.44 marked in December 1989, also lifted by gains of energy-related shares on higher oil prices.
While heavyweight semiconductor-related Tokyo Electron and Advantest initially boosted the market on hopes for growth in the generative artificial intelligence sector, buying of such shares lost steam ahead of the earnings release Wednesday by U.S. chip giant Nvidia Corp., analysts said.
