Japan Shares Closed at Peak of Several Years on Vaccine Hopes And Biden

Japanese stocks closed at a multi-year high on Tuesday, November 24, as progress in developing an inexpensive vaccine to prevent the Coronavirus boosted hopes for a speedy economic recovery, and sentiment received additional support from the approval of a formal transfer of power to US President-elect Joe Biden.

The Nikkei index closed up 2.50% to 26165.59 points, its highest closing level since May 1991. The broader Topix index increased 2.23% to 1765.91 points, the highest level in more than two years. Shares in energy, real estate and the financial sector led the upward trend.