The Nikkei stock index ended at a fresh record high on Thursday, surging over 4 percent, as investors chased further gains following surprisingly strong earnings from U.S. tech giant Micron Technology Inc. and a drop in crude oil futures, according to Kyodo.
The 225-issue Nikkei Stock Average ended up 3,191.37 points, or 4.61 percent, from Wednesday at 72,366.34. The broader Topix index finished 52.71 points, or 1.33 percent, higher at 4,016.47.
On the top-tier Prime Market, the main gainers were electric appliance, information and communication, and glass and ceramics product issues.
The U.S. dollar traded mostly in the upper 161 yen range in Tokyo amid lingering speculation over a U.S. Federal Reserve rate hike.
The Nikkei stock index jumped back above 72,000 as concerns about slowing demand for memory chips used in artificial intelligence data centers eased.
Reports that South Korea's SK Hynix Inc., which had been at the center of concerns, is considering listing its shares on the U.S. Nasdaq market also boosted investor sentiment. The Nikkei erased losses of more than 3,100 points accumulated over the previous two trading days in a single session.
"The market trend seen over the past few days has reversed," said Wataru Akiyama, strategist in the Investment Content Department of Nomura Securities Co.
The Nikkei remained strong throughout the day as investors continued buying heavyweight technology shares, particularly Advantest and Tokyo Electron.
"Buybacks and fear of missing out (on opportunities) are fueling buying," said Shota Sando, equity market analyst at the Tokai Tokyo Intelligence Laboratory Co.
The overnight decline in benchmark West Texas Intermediate crude oil futures, which briefly fell below $70 per barrel, also lifted the market.
