Nikkei Average Briefly Retakes 40,000

Tokyo, Dec. 12 (Jiji Press)--Japan's key Nikkei 225 stock average briefly surpassed 40,000 for the first time since Oct. 15 on an intraday basis Thursday, chiefly because semiconductor-related issues attracted buying following a rise in U.S. high-tech shares the previous day.

Tokyo stocks drew purchases also on the back of the yen's weakening against the dollar.

At the close, the Nikkei stood at 39,849.14, up 476.91 points, or 1.21 pct, from Wednesday, after rising to as high as 40,091.55 with a gain of 719.32 points, or 1.83 pct, in the morning.

The tech-heavy U.S. Nasdaq composite index hit an all-time closing high of above 20,000 on Wednesday on expectation that the U.S. Federal Reserve would cut interest rates at its policymaking meeting later this month.

In Tokyo currency trading Thursday, the yen lost ground against the dollar as speculation grew that the Bank of Japan would refrain from deciding an additional interest rate hike at its Policy Board meeting next week.

[Copyright The Jiji Press, Ltd.]