Japan’s Nikkei hits 34-year high
CNN
Japan’s Nikkei share average closed at a fresh 34-year high on Tuesday as trading resumed after a long holiday weekend, with tech-related shares and strong corporate earnings supporting the benchmark stock index.
Japan’s Nikkei share average closed at a fresh 34-year high on Tuesday as trading resumed after a long holiday weekend, with tech-related shares and strong corporate earnings supporting the benchmark stock index. The Nikkei climbed 2.89% to 37,963.97 to its highest since January 1990, after briefly breaching 38,000 points. The broader Topix rose 2.12%. Chip-sector giant Tokyo Electron gained 13.33%, making it the best performer of the day. SoftBank Group Corp rose 6.27%, buoyed by the rally in semiconductor developer ARM Holding, in which SoftBank has a 90% stake. Among other top gainers, Tokio Marine Holdings Inc and MS&AD Insurance Group Holdings Inc gained 11% and 10.82%, respectively. Japanese equities also received a boost from a strong performance on Wall Street and a weakened yen, boosting the value of overseas revenue for exporters.
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