By Brigid Riley
TOKYO (Reuters) -Japan’s main stock benchmark breached 40,000 points for the first time to end Monday at a record closing high, as corporate governance reform and solid valuations continue to pave the way for long-term global investor interest.
As technology shares jumped, tracking their U.S. counterparts, the Nikkei share average finished the day up 0.5% at 40,109.23.
After five consecutive weeks of gains, the index smashed through the fresh intraday peak of 39,990.23 hit on Friday and rose as high as 40,314.64 before momentum eased in the afternoon session.
While there may be short-term moves as the market heats up, “I think the market will continue to rise,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.
Overseas investors have been leading the buying, and many seem to be investing from a medium- to long-term perspective, he said.
Some analysts estimate Japanese equities could…
