TOKYO, Sept. 8 (Xinhua) -- Tokyo stocks ended higher Thursday, tracking overnight gains on Wall Street, as eased concerns over U.S. inflation lifted sentiment while a weaker yen raised hopes for Japanese exporters.
The 225-issue Nikkei Stock Average surged 634.98 points, or 2.31 percent, from Wednesday to close the day at 28,065.28.
The broader Topix index, meanwhile, jumped 41.97 points, or 2.19 percent, to finish at 1,957.62.
Investors here were awaiting remarks by Fed chair Jerome Powell at a monetary conference later in the day for clues to the central bank's further rate hikes after the yen, which has repeatedly touched 24-year lows recently, neared the 145 mark overseas Wednesday.
"Mr. Powell is likely to maintain his hawkish stance but the market has already priced that in, so it is unlikely the dollar will draw further buying," said Yuji Saito, head of the foreign exchange department at Credit Agricole Corporate & Investment Bank in Tokyo.
However, the yen found some support in the afternoon after the Bank of Japan and the Finance Ministry announced they would meet to discuss the yen's depreciation.
According to Shuji Hosoi, senior strategist at Daiwa Securities, the weakening yen is good for Japanese exporters and could boost their earnings per share.
By the close of play, air transportation, pharmaceutical, and electric appliance issues comprised those that gained the most, with rising issues outpacing falling ones by 1,703 to 103 on the Prime Market.
Tech-related Nikkei heavyweights lifted the broader market, with semiconductor equipment maker Tokyo Electron gaining 2.2 percent and chipmaker Screen Holdings climbing 1.7 percent.
On the Prime Market on Thursday, 1,207.65 million shares changed hands, rising from Wednesday's volume of 1,115.04 million shares.
Investors here are also awaiting an expected rate hike decision by the European Central Bank later in the day. ■
