Japan Shares Closing Higher After Reaching a 30-Year Peak

Japanese stocks closed higher for the third consecutive session on Tuesday, February 9, after reaching a 30-year high, as strong business results for companies and progress in distributing anti-virus vaccines raised expectations of a rapid economic recovery.

The benchmark Nikkei index rose 0.4% to 29,505.93 points, while the broader Topix index rose 0.08% to 1925.54 points.

Shares of SoftBank Group closed up 3.41%. And the share gained more than 5%, reaching its highest level in twenty years, driven by record profits for the group’s Vision Fund.

Chip-related shares rose, with Murata Manufacturing rising 3.21%, TDK jumping 2.65%, Advantest advanced 2.26%, and Tokyo Electron gaining 1.9%.