Nikkei Average Climbs as Tech Stocks Follow U.S. Peers Higher

Tokyo, Sept. 7 (Jiji Press)–Japan's benchmark Nikkei 225 stock average jumped more than 1,300 points Monday, as technology issues associated with artificial intelligence tracked their U.S. peers' gains late last week. The index of 225 major issues listed on the Tokyo Stock Exchange's Prime section closed at 66,399.84, up 1,378.90 points, or 2.12 pct, from Friday. On Friday, the U.S. government's employment report for August showed stronger-than-expected results, fueling speculation about an early interest rate hike by the Federal Reserve and weighing on major U.S. stock indexes. However, technology stocks rose on positive individual news. Monday's major gainers on the Tokyo market included tech investor SoftBank Group, up 11.22 pct, and chipmaker Kioxia Holdings, up 9.31 pct. The Nikkei briefly advanced over 1,600 points before shedding gains amid profit-taking selling. Trading slowed as the day progressed, ahead of the U.S. market's closure on Monday for Labor Day. END [Copyright The Jiji Press, Ltd.]