TOKYO: Japanese shares closed higher on Tuesday, with the Topix index hitting its best level in 20 years, as high-flying technology stocks tracked Wall Street higher on hopes for a strong economic recovery in the United States.
The broader Topix climbed 0.65% to 1,981.50, its highest close since May 14, 1991. SoftBank Group was the biggest boost to the index, followed by Sony, which rose 1.62%.
The Nikkei share average gained 0.52% to 29,921.09.
Japan’s technology shares advanced too, with SoftBank Group jumping 2.41%, Tokyo Electron rising 1.54% and Advantest jumping 3.37%.
In the airline sector, ANA Holdings and Japan Airlines rose 2.35% and 3.85%, respectively, tracking US peers Delta Air Lines and Southwest Airlines, which said leisure bookings were rising.
Travel agency H.I.S. gained 1.42% despite the COVID-19 crisis leading it to a 7.9 billion yen ($72.34 million) quarterly net loss.
E-commerce firm Rakuten Inc fell 1.44% after surging up to 24% on Monday on news about a capital tie-up with Japan Post Holdings.
Ebara Corp was the biggest gainer in the Nikkei index, rising 6.25%, followed by CyberAgent, which rose 4.46%. Kawasaki Kisen followed with a 4.38% rise.
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