Tokyo shares up after Fed commits to low rates

Tokyo stock prices rose on Thursday, tracking overnight gains on Wall Street. The rallies came after the US central bank signaled there will be no interest rate hikes for some time to come.

The Nikkei Average ended at 30,216, up 1 percent from Wednesday's close. The index surged more than 500 points at one stage. High-tech shares such as semiconductors were among the big gainers.

The broader TOPIX closed the day above the 2,000 mark for the first time in nearly 30 years.

The US Federal Reserve significantly upgraded its economic outlook for the year. But it predicted its key interest rate will stay near zero through the end of 2023.