Tokyo stocks climb in morning after Wall Street gains

This photo shows the Tokyo Stock Exchange. (Mainichi)

TOKYO (Kyodo) — Tokyo stocks climbed Thursday morning, supported by overnight Wall Street gains and U.S. tech giant Apple Inc.’s plan to invest an additional $100 billion to increase U.S. production.

The 225-issue Nikkei Stock Average advanced 319.82 points, or 0.78 percent, from Wednesday to 41,114.68. The broader Topix index was up 25.16 points, or 0.85 percent, at 2,991.73, hitting a record high on an intraday basis for the first time in two weeks.

The U.S. dollar briefly strengthened to the upper 147 yen range in Tokyo as it was bought by Japanese companies ahead of the summer holidays, dealers said.

At noon, the dollar fetched 147.56-58 yen compared with 147.30-40 yen in New York and 147.55-57 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1657-1658 and 172.01-05 yen against $1.1655-1665 and 171.72-82 yen in New York and $1.1581-1582 and 170.88-92 yen in Tokyo late Wednesday afternoon.

The stock market was lifted by Apple suppliers such as TDK, as the U.S. firm’s announcement raised hopes for improvement in their earnings, brokers said.

The benchmark Nikkei index was initially pressured by falls in heavyweight chip shares after U.S. President Donald Trump said Wednesday that he will impose a tariff of about 100 percent on semiconductor imports.