Japan’s Nikkei hit a six-month high, and the broader Topix touched its highest level since 1990, continuing its rally since the end of August on hopes of a new government formation and a further improvement in profits. News that US President Joe Biden and his Chinese counterpart Xi Jinping held phone talks also supported the rise by allaying concerns about existing Sino-US tensions.<\/p>\n\n\n\n
The Nikkei index rose 1.25 percent to 30,381.84 points, the ninth session of gains in the past ten sessions. On the week, it rose 4.3 percent.<\/p>\n\n\n\n
The Topix index rose 1.29% to 2,091.65 points.<\/p>\n\n\n\n
Hopes that a new leader of Japan’s ruling party would give an economic stimulus and a decisive victory in the elections boosted stock prices after Prime Minister Yoshihide Suga offered to resign last week.<\/p>\n\n\n\n
The profit outlook for Japanese companies has also improved recently as the pace of vaccination in the country approaches that of other developed countries.<\/p>\n\n\n\n
Financial sectors were among the biggest gainers after SBI Holdings announced an offer to buy a near-majority stake in Shinsei Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"
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