Nikkei Briefly Tops 38,000 for 1st Time since Jan. 1990

Economy

Tokyo, Feb. 13 (Jiji Press)--Japan's benchmark Nikkei 225 stock average advanced more than 1,000 points to close at a fresh 34-year high just below 38,000 on Tuesday, led by heavyweight components such as SoftBank Group and Tokyo Electron.

The Nikkei average finished up 1,066.55 points, or 2.89 pct, at 37,963.97. It briefly topped the 38,000 threshold for the first time since January 1990.

The broader TOPIX index closed up 54.15 points, or 2.12 pct, at 2,612.03.

A wide range of stocks rose in the Tokyo market, heartened by the Dow Jones Industrial average's advance to a new record high on Wall Street on Monday, when the Tokyo market was closed for a national holiday.

Semiconductor-related stocks led the market higher on expectations of rising demand for semiconductors for artificial intelligence.

[Copyright The Jiji Press, Ltd.]

Jiji Press