Japan’s Nikkei scales 34-year peak on Wall Street record

Tokyo, Jan. 22 (BNA): Japan’s Nikkei share average rallied to a fresh 34-year peak on Monday as the U.S. S&P 500’s record-high close on Friday buoyed investor sentiment, despite continued signs of overheating in the Asian market.

 

After opening sharply higher, the Nikkei fell back a bit in the morning session before rising as much as 1.69% to 36,571.80, a level not seen since February 1990, in late trade. It closed the day 1.62% higher at 36,546.95, Reuters reported.

 

The rally was extremely broad-based, with 207 of the index’s 225 components advancing, versus 17 decliners and one that was flat. Also, every Nikkei sector gained with real estate and technology being the top performers.

 

The S&P 500 posted its first record-high close in two years, as AI fever drove big gains for chip shares and other heavyweight tech stocks, with server maker Super Micro Computer lifting its profit forecast.

 

 

 

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