Tokyo, Japan – Tokyo stocks closed higher on Tuesday on the back of gains in US tech stocks, pushing the Nikkei index to a 33-year high.
The benchmark Nikkei 225 index climbed 1.16 percent, or 385.76 points, to end at 33,763.18, while the broader Topix index added 0.82 percent, or 19.55 points, to 2,413.09.
“Buying dominated a wide range of stocks in Tokyo as a series of economic indicators, including the jobs report, raised expectations of a soft landing for the US economy and high-tech shares gained” in New York, Iwai Cosmo Securities said.
The Nikkei climbed to its highest level since March 1990.
Overnight, the tech-rich Nasdaq Composite Index surged 2.2 percent.
The dollar fetched 143.97 yen in Asian trade, against 144.19 yen in New York late Monday.
In Tokyo trading, chip-linked shares were higher with Advantest surging 6.04 percent to 4,945 yen and Tokyo Electron jumping 3.27 percent to 24,910 yen.
Sony Group gained 1.29 percent to 13,340 yen while Nintendo soared 4.36 percent to 6,538 yen.
Japan’s household spending dropped 2.9 percent year-on-year in November, the 13th consecutive monthly decline, according to data released by the internal affairs ministry before the opening bell.
The data did not prompt a strong market reaction.