Japan shares close at the highest level in two months

Japanese stocks closed on Wednesday at their highest levels in more than two months, as technology shares rose, following in the footsteps of their US counterparts, and auto stocks gained as the yen weakened.

The Japanese Nikkei index closed up by three percent to record 28,040.16 points. The broader Topix index rose 2.33 percent to 1978.70 points. The two indexes closed at their highest levels since Jan. 18 and gained for the seventh consecutive session.

US stocks closed higher on Tuesday night, and the Nasdaq index led the rise, up 2 percent, after shares of technology companies and other major companies compensated for their losses in the previous period.

In Japan, shares of Fast Retailing, owner of clothing store Uniqlo, rose 5.21 percent, chip maker Tokyo Electron rose 3.8 percent, and SoftBank was the best performer, rising 7.22 percent.

Auto stocks rose 3.37 percent, with the yen weakening even more. Toyota Motor shares increased 3.99 percent, and Honda Motor shares rose 2.89 percent.