Japan’s Nikkei rises to a two-week peak with the support of robotics

Japan’s Nikkei average rose more than 1 percent on Wednesday to a two-week high, as robotics stocks led gains, despite important US inflation data expected later in the week.

The Nikkei index ended Wednesday’s session up 1.03 percent to 26446, and had earlier touched 26479.99 for the first time since December 27.

Sentiment in Japanese markets was boosted by a rally on Wall Street overnight, and gains were also boosted by the previous day’s earnings announcement from robotics maker Yasukawa Electric, which indicated improved supply chain conditions.

Yasukawa shares rose 6.26 percent, leading gains on the Nikkei index. Fanuc shares rose 4.6 percent.

Precision machinery stocks were the best performers among the 33 sectors of the Tokyo Stock Exchange, advancing 2.98 percent.

The Topix index rose 1.08 percent to 1901.25 points, and it also touched a two-week peak at 1901.91 points.