TOKYO: Japan’s Topix index closed at a record high on Thursday after worries about the impact of US tariffs eased, and increased investor optimism about strong performance of domestic firms.
The broader Topix rose 0.72% to 2,987.92. The Nikkei climbed 0.65% to 41,059.15.
Both indexes rose for a third consecutive session.
The three-day rally eclipsed a sharp decline on Monday, when the Nikkei posted its largest drop in two months.
“The market was too bearish, with concerns about the US tariff impact on domestic firms. But that sentiment was reversed,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
“And the weak economic data in the US raised expectations for the Federal Reserve’s rate cut, which supported sentiment of both US and Japanese equities,” said Suzuki.
Sony Group jumped 4% to provide the biggest boost to the Topix, after the game and camera maker raised its full-year operating profit forecast by 4%.
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