TOKYO: Japan’s Nikkei share average extended its gains from last week to end at a record high on Monday, as a weaker yen pushed automakers’ stocks higher.
The Nikkei rose 0.77% to 43,714.31 and the broader Topix rose 0.43% to 3,120.96. Both closed at record levels for the second straight session.
Japanese shares rallied this month on renewed optimism over the domestic corporate outlook and economic growth as the impact of US tariffs became clearer.
“Domestic equities kept the momentum from last week. There was an expectation that foreign investors would continue buying Japanese stocks,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
Fast Retailing gained 1.28% to lend the biggest boost to the Nikkei. Chip-testing equipment maker Advantest reversed early losses to end 1.48% higher.
Automakers rose, with Toyota Motor and Honda Motor rising 1.72% and 1.56%, respectively, as the yen lost about 0.2% against the US dollar on Monday.