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Japan's Nikkei Index Closes Wednesday on High Note
(MENAFN) Japan's Nikkei index stormed to an all-time closing high above 58,000 on Wednesday, powered by an overnight rally on Wall Street and fresh speculation surrounding two newly nominated Bank of Japan (BOJ) policymakers.
The 225-issue Nikkei Stock Average surged 1,262.03 points, or 2.20 percent, from the prior session to close at 58,583.12 — marking its first intraday record since February 12. The broader Topix index also advanced, gaining 27.18 points, or 0.71 percent, to finish at 3,843.16.
Gains were immediate at the opening bell, fueled by a sharp rally in heavyweight technology stocks following strong performances from software-related equities in the U.S. market overnight.
Momentum accelerated through the afternoon session as investor concerns over further interest rate hikes by the BOJ eased in the wake of the government's nomination of two new central bank policymakers, according to brokers. The prospect of a more measured monetary policy stance encouraged further buying across the market.
The record close underscores renewed investor confidence in Japan's equity markets, with both domestic policy signals and external tailwinds aligning to drive one of the benchmark index's most significant single-day advances in recent months.
The 225-issue Nikkei Stock Average surged 1,262.03 points, or 2.20 percent, from the prior session to close at 58,583.12 — marking its first intraday record since February 12. The broader Topix index also advanced, gaining 27.18 points, or 0.71 percent, to finish at 3,843.16.
Gains were immediate at the opening bell, fueled by a sharp rally in heavyweight technology stocks following strong performances from software-related equities in the U.S. market overnight.
Momentum accelerated through the afternoon session as investor concerns over further interest rate hikes by the BOJ eased in the wake of the government's nomination of two new central bank policymakers, according to brokers. The prospect of a more measured monetary policy stance encouraged further buying across the market.
The record close underscores renewed investor confidence in Japan's equity markets, with both domestic policy signals and external tailwinds aligning to drive one of the benchmark index's most significant single-day advances in recent months.
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