Tokyo, February 25 (QNA) – Japan’s ​Nikkei share average climbed to another record on Wednesday, ​driven by a surge in tech-related stocks and waning expectations of an imminent policy rate hike after new central bank board member nominations.

The benchmark Nikkei 225 index ‌rose 2.2% to ⁠close ⁠at 58,583.12 after rising as much as 2.7%.

The broader Topix gained 0.7% at 3,843.16.

Semiconductor-related shares contributed ​to lifting the Nikkei index the most, with chip-testing ​equipment maker Advantest rising 7.5%, to push up the index by more than 520 points, while chipmaking equipment manufacturer Tokyo Electron’s 4.2% jump helped the index rise by over 180 points.

IT services firm NEC Corp rose 2.4%, after a 6.2% tumble the previous day, as ‌investors’ apprehension over artificial intelligence disruption eased.

The largest percentage decliner was Nippon Steel with a 5.5% drop, after the Japanese steelmaker said on Tuesday it would increase its convertible bond offering to $3.9 billion, the biggest in Japan’s corporate history. (QNA)