Tokyo stocks rose Thursday morning on gains in technology issues after the U.S. Nasdaq Composite Index closed at a record high overnight.

The 225-issue Nikkei Stock Average rose 173.42 points, or 0.66 percent, from Wednesday to 26,470.28. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 7.88 points, or 0.45 percent, at 1,775.55.

Gainers included information and communication, precision instrument, and electric appliance issues.

The U.S. dollar traded in the lower 104 yen range, fluctuating between buying on advances in U.S. and Japanese shares and selling on concerns over growing coronavirus infections in some parts of the world.

At noon, the dollar fetched 104.26-27 yen compared with 104.41-51 yen in New York and 104.47-49 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1928-1928 and 124.36-37 yen against $1.1908-1918 and 124.40-50 yen in New York and $1.1906-1907 and 124.38-42 yen in Tokyo late Wednesday afternoon.

After struggling for clear direction in early morning after the benchmark Nikkei ended at a fresh 29-year high the previous day, shares rebounded and extended their gains, lifted by rising technology issues.

"Long-term investors bought on dips on a relatively bright (global) economic outlook in the wake of the recent coronavirus vaccine progress," said Makoto Sengoku, a market analyst at the Tokai Tokyo Research Institute.

Sentiment was also supported by hopes that central banks in Europe and the United States will deliver more monetary easing at their policy meetings in December to cushion the economic fallout from the pandemic, Sengoku added.

Among technology issues, Tokyo Electron rose 690 yen, or 2.0 percent, to 34,580 yen, Screen Holdings gained 170 yen, or 2.5 percent, to 6,850 yen and Taiyo Yuden climbed 140 yen, or 3.1 percent, to 4,600 yen.

On the First Section, advancing issues outnumbered decliners 1,276 to 810, while 88 ended the morning unchanged.

==Kyodo

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