Nikkei touches 3-month high as investor sentiment improves

Japan’s Nikkei share average rose to a three-month high on Tuesday, and the broader Topix index reached its highest level since late 2021, as investor sentiment improved thanks to a decline in long-term US Treasury yields.

But analysts said that uncertainty limited the gains ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress later on Tuesday, the release of the important US jobs report on Friday, and the current Governor of the Bank of Japan, Haruhiko Kuroda, making his last decisions on interest rates before his retirement. the week.

The Nikkei index closed up 0.25 percent at 28,309.16 points, after touching 28,398.27 during the session, its highest level since December 1.

The broader Topix index rose 0.42 percent to close at 2,044.98 points, after hitting 2,046.11 points, its highest level since November 2021.

Ten-year US Treasury yields lost more than they gained last night, trading at about 3.95 percent in Tokyo, after hitting a multi-month high of 4.091 percent last week.