TOKYO: Japan’s Nikkei jumped 3% on Tuesday to record its best session in more than six months, as investors scooped up beaten-down heavyweights and growth stocks after Wall Street closed sharply higher overnight.

The Nikkei share average advanced 2.96% to 26,992.21 in broad-based buying, marking its biggest daily gain since March 23, and posting its highest close since Sept. 22.

The broader Topix jumped 3.21% to 1,906.89 in its sharpest daily gain since March 10.

Wall Street’s three major indexes rallied more than 2% on Monday, as Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks.

“Investors scooped up shares that were beaten down, especially heavyweights and growth stocks,” said Maki Sawada, a strategist at Nomura Securities. “The market was also underpinned by the strong finish of Wall Street.”

After tough September, Nikkei rebounds on boost from chip, energy shares

Market participants shrugged off news that nuclear-armed North Korea fired a ballistic missile over Japan for the first time in five years earlier in the day.

Uniqlo clothing shop owner Fast Retailing rose 2.02% and was the biggest boost for the Nikkei, followed by technology investor SoftBank Group, jumping 5.1%, and chip-making equipment maker Tokyo Electron, which rose 2.68%.

The wholesales sector, which includes trading houses, was the top performer among the Tokyo Stock Exchange’s 33 industry sub-indexes, jumping 5.53% as Itochu raised its profit forecast and announced a share buyback.

Itochu surged 8.34%, while Mitsubishi Corp gained 4.83% and Mitsui & Co climbed 5.39%.

Energy shares also advanced, as oil prices rose after the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, said it would consider reducing output.

Explorers jumped 4.96% and refiners rose 4.13%. Inpex and Japan Petroleum Exploration Co climbed 5.36% and 3.37%, respectively.

Shipping firm Kawasaki Kisen was the only decliner on the Nikkei, falling 1%.