Japan’s Nikkei at a 33-year high supported by institutional stocks

Japan’s Nikkei index continued to climb on Tuesday, supported by institutional stocks.

The Nikkei reversed course, after posting losses earlier in the session, to close nearly 1 percent higher at 32,506.78 points. The index closed at its highest level since July 1990.

The broader Topix index rose 0.74 percent to 2,236.28 points.

Fast Retailing rose 1.73 percent, contributing the highest percentage to the Nikkei index, and Mitsui Trading Co jumped 3.86 percent.

Mizuho Financial Group fell 0.49 percent, leading the banking sector’s losses. Advantest shares fell 2.18 percent.

Trading and mining stocks led the gains in the sub-sectors, up 2.5 percent. The banking sector index led the losses, down 0.78 percent.