TOKYO: Tokyo’s key Nikkei index ended higher Friday, hitting its highest level in more than 30 years, boosted by a cheaper yen and optimism over talks to avert a catastrophic US debt default.
The benchmark Nikkei 225 index was up 0.77 percent, or 234.42 points, to finish at 30,808.35, while the broader Topix index added 0.18 percent, or 3.84 points, to 2,161.69.
The dollar stood at 138.18 yen, against 138.68 yen in New York, where the greenback firmed from 137.40 yen in Tokyo late Thursday.
Investors were emboldened by overnight advances on Wall Street, where all three major US stock-market indexes closed higher thanks to better-than-expected earnings results for Walmart, and optimism over the future profitability of artificial intelligence.
In Tokyo, the weakening yen cheered traders at the open.
And while “gains were partly checked by concerns over short-term fever pitch, the risk associated with ‘not having Japanese stocks’ encouraged investors to buy again, helping maintain momentum,” IwaiCosmo Securities said.
Tokyo shares close higher on US debt ceiling hopes
In the end, the Nikkei closed at its highest level in almost 33 years, since August 1990.
Among major shares in Tokyo, Tokyo Electron firmed 0.87 percent to 18,530 yen and Uniqlo operator Fast Retailing surged 2.18 percent to 34,090 yen while Toyota added 0.20 percent to 1,959.5 yen.
Sony Group was down 0.94 percent to 13,590 yen.
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