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Nikkei Hits One-Month Closing High on Wall Street Gains

Jiji Press TOKYO (Jiji Press) — Stocks continued to rise steeply on the Tokyo Stock Exchange Tuesday thanks to buying encouraged by an overnight advance on Wall Street, pushing up the benchmark Nikkei average to the highest closing level in more than a month.

The 225-issue Nikkei average jumped 230.85 points, or 1.18 percent, to close at 19,776.62, the highest closing level since Aug. 8. On Monday, the key market gauge surged 270.95 points.

The TOPIX index of all first-section issues ended up 15.19 points, or 0.94 percent, at 1,627.45, after gaining 18.72 points the previous day.

Stocks attracted brisk purchases after U.S. equities gained sharply on Monday on the back of receding geopolitical risks over North Korea and smaller-than-expected damage caused by Hurricane Irma on the United States, brokers said.

The dollar’s strengthening above ¥109 also helped lift Tokyo stocks, brokers said.

“U.S. stocks fared well as investors took heart from the absence of provocations by North Korea on the [reclusive state’s] national foundation anniversary” on Saturday, an official of a bank-affiliated securities firm said.

The official attributed the Tokyo market’s surge on Tuesday to “buybacks by foreign investors who followed in the footsteps of domestic investors.”

On Monday, the Tokyo market attracted hefty buybacks on receding concerns over the situation surrounding North Korea, which carried out a nuclear test on Sept. 3.

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