TOKYO (Reuters): Driven by heavyweights in the chip industry, Japan's Nikkei share average ended higher on Friday,

 recording a record fiscal-year gain in terms of points despite strong foreign purchasing.

 The index broke levels last seen in 1989 during the nation's bubble economy on February 22 and then continued to reach record highs this month.

 Foreign purchases on a declining yen and expectations that the Bank of Japan will continue its loose monetary policy helped the surge.

 In the fiscal year that concluded on Friday, the index increased by 12,328 points, which was its largest gain in absolute terms.

 It increased by 44% throughout the year, the highest since March 2021, when the fiscal year concluded.

 With a 0.5% gain at 40,369.44 on Friday, the Nikkei recovered some of the losses from the previous session.

Fill in some textFumio Matsumoto, chief analyst at Okasan Securities, said, "investors are generally positive about domestic stocks despite their continued caution over a potential intervention in the currency market."

 Fumio Matsumoto, chief analyst at Okasan Securities, said, "investors are generally positive about domestic stocks despite their continued caution over a potential intervention in the currency market."

 In the fiscal year that concluded on Friday, the index increased by 12,328 points, which was its largest gain in absolute terms.

 It increased by 44% throughout the year, the highest since March 2021, when the fiscal year concluded.

 According to Fumio Matsumoto, chief strategist of Okasan Securities, "investors are generally positive about domestic stocks despite their continued caution regarding potential currency market intervention."

 Tokyo is getting closer to entering the market as the yen hit a 34-year low vs the dollar this week, forcing local authorities to call an emergency meeting.

 At 151.40 per dollar, the Japanese yen was last flat.

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