Nikkei Surges to Retake Level before Early Aug. Collapse

Tokyo, Sept. 26 (Jiji Press)--Japan's benchmark Nikkei 225 stock average surged more than 1,000 points on the Tokyo Stock Exchange on Thursday, posting the highest closing level since July 31, just before the Tokyo market collapsed in early August.

The Nikkei average ended at 38,925.63, up 1,055.37 points, or 2.79 pct, from the previous day's close. The broader TOPIX index advanced 70.62 points, or 2.66 pct, to 2,721.12.

The Nikkei was led higher by semiconductor-related stocks, including Tokyo Electron and Disco, which jumped 8.01 pct and 9.27 pct, respectively, after major U.S. chipmaker Micron Technology reported stronger-than-expected quarterly results overnight.

Dividend hunting also boosted Japanese stocks ahead of the end of September, market sources said.

Export-oriented issues, including automakers Toyota and Honda, were supported by the yen's weakening against the dollar.

[Copyright The Jiji Press, Ltd.]