Japan’s Nikkei Stock Average Hits All-Time High as Markets Track Wall Street Rally

Yomiuri Shimbun file photo
The Tokyo Stock Exchange

TOKYO, Jan 13 (Reuters) – Japan’s Nikkei share average surged to a record high on Tuesday, playing catch-up with Wall Street’s recent two-day rally after a public holiday in the Asian nation.

Investor sentiment was further lifted by a sharply weaker yen than when Tokyo last closed on Friday, as a softer currency increases the value of overseas earnings for Japan’s export-heavy corporations.

Japanese investors, like global peers, mostly appeared unfazed by the U.S. Justice Department’s criminal investigation of Federal Reserve Chair Jerome Powell.

The Nikkei .N225 jumped 3.6% to a record 53,814.79 within the first 10 minutes of trade.

The broader Topix .TOPX rose as much as 2.4% to as high as 3,599.31, also a record peak.

Overnight, the Dow and S&P 500 both climbed to all-time peaks, with tech shares among the outperformers.

Standouts in early trading in the Nikkei included Toyota Motor 7203.T, which advanced 5%, and chip-testing equipment maker Advantest 6857.T, with a nearly 6% jump.