Nikkei jumps to fresh 34-year high, closes in on all-time peak
The stock market was buoyed by a strong day on Wall Street overnight. U.S. stocks closed higher as retail sales data declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates in coming months.
Japan's benchmark Nikkei got off to a roaring start on Friday, opening the morning session at its highest since Japan's economic bubble burst in the late 1980s.
The Nikkei share average was last up 1.6 per cent at 38,769.64, surpassing the post-economic bubble era high of 38188.74. So far it's up 14.0 per cent for the year.
The broader Topix was up 1.1 per cent at 2620.53.
The Nikkei was within touching distance of the all-time record high of 38,957.44 hit in December 1989.
The stock market was buoyed by a strong day on Wall Street overnight. U.S. stocks closed higher as retail sales data declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates in coming months.
The largest percentage gainers in the index were Advantest Corp up 4.91 per cent, followed by Tokyo Electron Ltd gaining 4.74 per cent and Resonac Holdings Corp up by 4.32 per cent.
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