TOKYO: Japanese shares ended higher on Thursday, with the Nikkei touching a 30-year peak, powered by financials as US bond yields climbed on expectations of larger stimulus following a Democrat sweep in two Senate runoffs in Georgia.
The Nikkei average closed 1.60% higher at 27,490.13, hitting its highest level since August 1990 at one point during the session and snapping a four-day losing streak.
The broader Topix added 1.68% to 1,826.30, climbing above a peak hit late last year to reach its highest level since October 2018.
Insurer Dai-ichi Life Holdings rose 7.4%. Among banks, SMFG gained 5.5%, while Mizuho added 3.3% and Mitsubishi UFJ rose 3.5%.
Other cyclical, value shares also gained on hopes of a stimulus package from the incoming Biden US administration.
Steelmakers gained 5.2%, with Nippon Steel rising 7.8%. Ship builder Hitachi Zosen surged 13.7%.
SoftBank Group dropped 1.6% on news that the Trump administration is considering adding Alibaba Group Holding Ltd to its trade blacklist of Chinese companies.
Softbank Group is the largest shareholder of the Chinese e-commerce giant.
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