(Recasts with Fed background, details and analyst comments in

paragraphs 5-6)

By Rocky Swift

TOKYO, Sept 18 (Reuters) - Japan's Nikkei share average

rose to an intraday record high on Thursday, underpinned by

technology shares, as optimism swept into the market following

the U.S. Federal Reserve's widely anticipated 25-basis-point

interest rate cut.

The Nikkei 225 Index climbed 0.7% to 45,113.68,

reaching an intraday peak of 45,144.62 and surpassing the

previous high set earlier this week. Meanwhile, the broader

Topix recovered from an early dip to advance 0.3%.

Global markets have been on tenterhooks awaiting a rate cut

from the U.S. central bank and signals of further stimulus for

the world's biggest economy that is a destination for much of

Japan's exports.

The Dow index of blue-chip U.S. shares finished higher,

while the yen reversed an initial surge after the Federal Open

Market Committee's decision, which projected two additional cuts

this year.

"The Nikkei started higher today, buoyed by the relief

following the smooth passage of last night's FOMC meeting, the

Dow's rebound, and ongoing yen depreciation," said Nomura

strategist Maki Sawada.

"The 45,000 level is indeed a psychological threshold, and

after breaching it, the environment seems conducive to

profit-taking."

Trader focus has now shifted to the upcoming two-day Bank of

Japan meeting, which concludes on Friday. While policymakers are

widely expected to stand pat on key rates, markets will be

watching closely for any signals on when the central bank might

resume rate hikes as part of its long-term normalization

strategy.

There were 139 advancers on the Nikkei against 83 decliners,

with the top gainers all semiconductor-related heavyweights.

Resonac Holdings ( SHWDF ) jumped 10.5%, followed by Screen

Holdings ( DINRF ), which soared 4.6%, and Tokyo Electron ( TOELF )

up 3.6%.

The largest losers were utilities, with Tokyo Electric Power ( TKECF )

dropping 4.7% and Tokyo Gas ( TKGSF ) shedding 4.2%.