Tokyo stocks ended lower Wednesday after the Nikkei's earlier surge to a new 34-year high on a weaker yen gave way to profit-taking.

The 225-issue Nikkei Stock Average closed down 141.43 points, or 0.40 percent, from Tuesday at 35,477.75. The broader Topix index finished 7.60 points, or 0.30 percent, lower at 2,496.38.

On the top-tier Prime Market, decliners were led by mining, electric power and gas, and pharmaceutical issues.

The U.S. dollar briefly climbed to a one-month high in the upper 147 yen range in Tokyo on receding prospects of an interest rate cut by the Federal Reserve in March, after a senior Fed official said the central bank should not rush to reduce borrowing costs despite signs of easing inflation.

Equities fell in a day of volatile trading that saw the Nikkei briefly climb over 600 points to surpass the 36,000 line, with gains supported by the yen's weakness boosting prospects for higher exporter profits from overseas.

While technology-related stocks such as Tokyo Electron and SoftBank Group also tracked a rise of a key U.S. semiconductor index overnight, persistent concern over an overheated market prompted selling later in the day, analysts said.

The Tokyo market has enjoyed a stellar start to 2024, and a recent six-day rally on the Nikkei added around 2,600 points.

"Investors took the view that the market had gotten too strong too quickly and moved to sell," said Toshikazu Horiuchi, equity strategist at IwaiCosmo Securities Co.

Fujitsu fell 4.1 percent after its European director told British lawmakers Tuesday that the company has a "moral obligation" to provide redress to victims of a scandal in which its faulty software led to British post office staff being wrongly accused of embezzlement.

==Kyodo

© Kyodo News International, Inc., source Newswire