Japanese Nikkei index closed at its highest level in nearly 3 weeks

The Japanese Nikkei index closed at its highest level in nearly three weeks on Wednesday, as investors increased appetite for shares that are scheduled to be traded this week without the right to distribute profits, and the shares of the highly influential Soft Bank Group jumped in the market, supported by plans to divide the Alibaba Group.

The Nikkei index rose 1.33 percent to close at 27,883.78 points, its highest level since March 10 and the biggest daily increase since March 22.

The broader Topix index rose 1.46 percent to 1,995.48 points.

SoftBank jumped 6.18% to become the biggest supporter of the Nikkei index, by 62 points, after Alibaba Group announced plans to split into six units and explore fundraising or listing for most of them. SoftBank owns a stake in Alibaba.

Fast Retailing, which owns the Uniqlo brand, rose 0.90 percent, and Daikin air conditioners rose 2.07 percent.

The oil exploration sector index rose 2.63 percent, becoming the biggest gainer among 33 sub-indices on the Tokyo Stock Exchange.

Among the stocks listed on the Nikkei index, 213 rose, ten fell, and two remained unchanged.