The Japanese stock index rallied in early trade to break over the14,000 level for the first time since late January. The rally wasfuelled by the 8.12% rally in the Nasdaq index on Wall Streetfollowing the surprise 50bps cut in U.S. interest rates onWednesday. Equity traders said doubts over Japan'scommitment to changes to capital gains and certain incometaxes is the main reason the Nikkei failed to sustain the earlygains. The Nikkei currently trades at 13898.18, up 1.88% fromWednesday's close.