Nikkei Surges To A New 34 Year High

Japan’s benchmark Nikkei stock index saw a significant surge on Tuesday, with gains exceeding 1,000 points compared to the previous week, reaching above 37,900.

The 225-issue Nikkei Stock Average peaked at 37,930.10 at 1:47 p.m. local time, which marked a new high in 34 years, topping the 37,900 threshold during trading hours for the first time since February 1990.

On the first trading day of the week after a public holiday on Monday, broad-based buying activities were seen in the Tokyo market, particularly in semiconductor-related stocks, as investors displayed a strong risk appetite buoyed by the previous day’s rise in the U.S. stock market.

For the morning session, the Nikkei average closed at 37,798, up 2.4 percent from the previous trading day.

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