Japan's Nikkei remains in record territory, falls short of 40,000

March 1 (UPI) -- Japan's Nikkei stock index made gains during trading Friday, continuing its climb into record territory and closing the week just shy of the 40,000 mark.

The Nikkei gained 744.63 points or 1.9% Friday, ending the trading day at 39,910.82 after good news in the mining, oil and coal product, and electric appliance sectors.

Tech shares also had record-high closes on Wall Street overnight.

The Tokyo Stock Price Index, or TOPIX, climbed 1.3% Friday to close at 2,709.42. The index closed up 1.8% for the week as the Japanese Yen continues to depreciate.

Shares of export-related companies also made positive gains on Friday.

The Nikkei has seen major growth so far this year, nearly 17% above 2023 levels.

The index in February 2021 climbed above 30,000 points for the first time.

Bank of Japan Governor Kazuo Ueda said Thursday the country's central bank is likely not yet at the point where it will begin shifting away from its current negative interest rate policy.