Japanese stocks scaled a near eight-week closing high on Thursday, tracking Wall Street's overnight rally on promising early trial results of an experimental COVID-19 treatment, as well as on solid tech earnings and a surge in oil prices.
The benchmark Nikkei average advanced 2.6% to 20,193.69, its highest closing level since March 9, with trading volume on the main board hitting a one-month peak of 3.06 trillion yen ($28.8 billion).
The Nikkei volatility index, considered a fear gauge based on option pricing, dropped as much as 11.9% to an eight-week low of 29.4, reflecting a decline in investor anxiety.
The broader Topix gained 1.0% to 1,464.03, also its highest close since March 6, with more than two-thirds of the 33 sector sub-indexes on the Tokyo exchange finishing higher.
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