Japanese Market Sharply Higher
Nasdaq (RTTNews) - The Japanese stock market is sharply higher on Monday, extending the gains in the previous two sessions, with the Nikkei 225 moving above the 31,300 level to fresh 33-year highs, following the broadly positive cues from global markets on Friday, with gains across all sectors as traders react to the news of an "agreement in principle" reached on the US debt ceiling over the weekend.
The benchmark Nikkei 225 Index is up 405.75 or 1.31 percent at 31,322.06, after touching a high of 30,560.43 earlier. Japanese shares ended notably higher on Friday.
Market heavyweight SoftBank Group is gaining more than 3 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining more than 2 percent, while Toyota is flat.
In the tech space, Screen Holdings is gaining almost 2 percent, Advantest is surging more than 5 percent and Tokyo Electron is adding more than 2 percent. In the banking sector, Sumitomo Mitsui Financial is adding more than 2 percent, while Mizuho Financial and Mitsubishi UFJ Financial are gaining almost 2 percent each.
