Japan’s Nikkei cruises to 34-year peak, briefly breaching 38,000 range By Reuters

Date:

February 12, 2024

By Brigid Riley

TOKYO (Reuters) -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 rose 2.12%.

Chip-sector giant Tokyo Electron Ltd gained 13.33%, making it the best performer of the day.

SoftBank (TYO:) Group Corp rose 6.27%, buoyed by the rally in semiconductor developer ARM Holdings (LON:) shares, 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.

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Japan’s Nikkei cruises to 34-year peak, briefly breaching 38,000 range By Reuters

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