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(Update) TOPIX, Nikkei Hit All-Time Closing Highs

(Update) TOPIX, Nikkei Hit All-Time Closing Highs

   Tokyo, July 4 (Jiji Press)--Japan's major stock indexes TOPIX and Nikkei 225 both rose for the fifth straight market day on the Tokyo Stock Exchange on Thursday, hitting respective all-time closing highs.
   The Nikkei average closed at 40,913.65, up 332.89 points, or 0.82 pct, from the previous day. It renewed its all-time closing high for the first time since March 22 this year.
   The broader TOPIX index rose 26.29 points, or 0.92 pct, to 2,898.47, rewriting its highest level on a closing basis for the first time since December 1989.
   The Tokyo market was initially led higher by semiconductor-related stocks in the morning, after the tech-heavy U.S. Nasdaq Composite Index hit a record high overnight.
   "Global information and technology stocks seem to have entered a positive cycle, where rising prices attract buying," an official of a Japanese asset management firm said. "They will go as far as they can, brushing aside worries about overheating."

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AFP-JIJI PRESS NEWS JOURNAL


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