Japan’s Nikkei closes above 27,000 points for the first time in two weeks

Japan’s Nikkei broke through an important psychological barrier on Wednesday, boosted by retail stocks, although sentiment remained muted compared to global markets, which were boosted by the prospect of central banks calming sharp tightening policies.

The Nikkei index broke the 27,000-point barrier for the first time since Sept. 22 and closed 0.48% higher at 27,120.53 on Wednesday.

The broader Topix index also rose 0.32 percent.

Despite the strong performance of specific stocks, the market lacked a clear direction, as local investors awaited more signs of recovery in the US economy, including key jobs data due later on Wednesday.

The Nikkei’s gains were limited compared to other indices, many of which rose after the Reserve Bank of Australia lower-than-expected rate hike.

The MSCI Asia Pacific Index, excluding Japan, rose 2.6 percent.

Among the 225 stocks on the Nikkei index, 119 rose and 100 fell, while six were traded almost unchanged.