TOKYO: Japan’s Topix index climbed to a record high on Thursday and the Nikkei share average hit a new one-year peak, as stocks rallied for a second straight session after Tokyo struck a long-awaited trade deal with Washington.
The Topix advanced as much as 2.1% to reach 2,986.63 for the first time ever. The Nikkei gained as much as 2.2% to 42,065.83, crossing the psychological 42,000 mark for the first time since July of last year.
The trade deal announced late on Tuesday by US President Donald Trump reduced a reciprocal rate and autos-specific levies to 15%, from the 25% Washington had threatened previously.
Signs that the European Union may soon agree its own tariff agreement with the US also lifted overall market sentiment.
The rubber index, which includes tyre makers, jumped 3.3% after advancing 2% a day earlier.
The Topix transport equipment index gained just 0.2%, but that followed a nearly 11% surge in the previous session.
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