This May 7, 2020 file photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) — Tokyo stocks climbed Wednesday morning, driven by overnight advances on Wall Street on growing expectations that the U.S. central bank will cut interest rates next week.
The 225-issue Nikkei Stock Average rose 225.00 points, or 0.52 percent, from Tuesday to 43,684.29. The broader Topix index was up 11.22 points, or 0.36 percent, at 3,133.34.
The U.S. dollar mostly moved narrowly in the lower 147 yen zone in Tokyo amid a lack of new trading incentives, dealers said.
At noon, the dollar fetched 147.30-31 yen compared with 147.38-48 yen in New York and 147.22-24 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.1706-1708 and 172.43-47 yen against $1.1704-1714 and 172.57-67 yen in New York and $1.1751-1753 and 173.00-04 yen in Tokyo late Tuesday afternoon.
Stocks rose after their U.S. counterparts renewed all-time highs amid hopes for Fed rate cuts following revised data that showed the United States added 911,000 fewer jobs than estimated for the year through March, brokers said.
The Nikkei stayed in the positive territory as heavyweight technology and semiconductor-related shares were bought.