TOKYO: Japanese shares hit a fresh nine-month high on Tuesday following strong gains on Wall Street amid swelling optimism over prospects for the global recovery.
The headline Nikkei index rose 0.32 percent, or 33.99 points, to 10,626.03 at the Tokyo Stock Exchange by the lunch break, after hitting 10,648.80, its highest point since May, during the morning.
The Topix index of all first section shares gained 0.21 percent, or 1.94 points, to 942.37.
The Nikkei was expected to stay in positive territory, but "the market is looking a little overheated," Yumi Nishimura, deputy general manager at Daiwa Securities Capital Markets, told Dow Jones Newswires.
The index would likely remain in the 10,600-10,700 range barring any sudden movements in foreign exchange markets or any announcement of tightening measures from China during the current Lunar New Year holiday, she said.
The dollar fetched 82.33 yen, almost unchanged from New York late Monday. The euro rose to $1.3613, compared with $1.3567, and 112.05 yen, up from 111.80.
In New York on Monday the Dow Jones Industrial Average rose 69.48 points, or 0.57 percent, to finish at 12,161.63, its highest level since mid-June 2008, as investors digested merger and acquisition activity and positive earnings.
The blue-chip Dow has rallied for nine of the past 10 weeks.
Leading telecom firm KDDI was up 4.49 percent at 500,000 yen after Credit Suisse raised its rating. Tokyo Electron rose 1.82 percent 5,590.
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