HONG KONG — Japan’s stock benchmark Nikkei 225 reached the 40,000 mark for the first time on Monday, as strong demand for technology shares continues to push the index higher.
By midday in Tokyo, the index was up 0.8% to 40,226.83.
Shares in computer chip-related companies rose, with Renesas Electronics Corp. rose 5.8% and Advantest Corp. by 3.9%. Olympus won 7.4%.
Stocks in Japan followed gains in other markets, driven by expectations of strong demand for artificial intelligence-related technology.
They have also been boosted by continued accommodative credit policies, with the Bank of Japan pumping money into the economy to help support growth. This policy has kept the Japanese yen relatively weak against the US dollar and other major currencies, boosting exporters’ profits.