Japan Shares Closed at The Peak of 29 Years on Vaccine Hopes

Japanese stocks stabilized Thursday, December 3, near a 29-year high, as major countries close to distributing coronavirus vaccines, while sentiment also received support from hopes for more stimulus.

Nikkei ended the session modestly gaining 0.03% at 26,809.37, but held near its highest level since April 1991, while the broader Topix index rose 0.07% to 1775.25.

Real estate stocks and the consumer sector linked to the economic cycle and industrial and financial companies rose, in an indication that investors are betting on sectors that will benefit the most from the recovery of economic growth.