Japan key stock index hits 11-month high

　　TOKYO, June 30 (Xinhua) -- Japan's key stock index extended its winning streak for a fifth consecutive session on Monday, its highest in nearly 11 months as market sentiment was boosted by expectations that the United States may cut interest rates later this year.

　　The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 40,487.39, up 336.60 points, or 0.84 percent, from the previous trading day.

　　Early in the day, the Nikkei surged by over 700 points, buoyed by gains in U.S. tech stocks, particularly the Nasdaq Composite.

　　However, gains were trimmed in the afternoon session as profit-taking emerged, especially in futures trading.

　　A strengthening yen, which rose to the 143 yen per dollar level, also weighed on sentiment, as expectations for narrowing interest rate differentials between the United States and Japan triggered yen buying and dollar selling.

　　The broader TOPIX index also climbed for the fifth straight session, adding 12.30 points, or 0.43 percent to close at 2,852.84.

　　On the Tokyo Stock Exchange Prime Market, 893 issues advanced, 654 declined, and 80 were unchanged. ■