Tokyo stocks rose Wednesday morning led by major technology firms after U.S. chip giant Nvidia Corp. became the world's most valuable company in trading overnight, while automakers gained on favorable trade data.
The 225-issue Nikkei Stock Average climbed 225.10 points, or 0.58 percent, from Tuesday to 38,707.21. The broader Topix index was up 19.43 points, or 0.72 percent, at 2,735.19.
The U.S. dollar was firm in the upper 157 yen range amid expectations that the U.S. and Japanese interest rate differential is likely to remain wide, dealers said.
At noon, the dollar fetched 157.81-86 yen compared with 157.83-93 yen in New York and 158.13-14 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0738-0739 and 169.46-53 yen against $1.0735-0745 and 169.44-54 yen in New York and $1.0722-0724 and 169.55-59 yen in Tokyo late Tuesday afternoon.
Stocks were lifted by gains for tech firms such as semiconductor testing equipment maker Advantest, a firm associated with Nvidia, whose shares have been drawing buying on the back of the recent artificial intelligence boom.
But the Japanese market's gains were moderate, as buying was limited to issues linked to the U.S. chip giant, analysts said. "Investors were concerned about the risk of sell-offs if Nvidia starts sliding," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
Automakers were also bought after Japanese May trade data showing robust auto shipments to the United States helped ease investor concern over the negative impact of a vehicle testing scandal involving major companies including Toyota Motor Corp., brokers said.
