(Bloomberg) -- Japanese stocks advanced for a third day, lifting the Nikkei 225 Stock Average to a level last seen during the nation’s bubble economy more than three decades ago.The blue-chip gauge closed at 30,670.10 in Tokyo, surpassing this year’s previous peak in February to end at the highest since August 1990. KDDI Corp. and Fanuc Corp. were the largest contributors to the Nikkei’s 0.7% gain. Electronics makers and car companies gave the biggest boosts to the broader Topix, which advanced
(Bloomberg) -- The Nikkei 225 Stock Average touched a level above 30,000 for the first time since April as a reshuffle of the blue-chip gauge added to a wave of positive sentiment on Japanese equities.SoftBank Group Corp. and Tokyo Electron Ltd. were the largest contributors to a 0.9% climb in the Nikkei 225, which closed at 29,916.14. Electronics makers gave the biggest boost to the broader Topix, which advanced 1.1%. Both measures capped their seventh-straight day of gains, pushing the Nikkei
Japanese shares are expected to recover from an eight-month low marked on Friday to near a 30-year high by the end of this year, supported by a robust corporate outlook and the rollout of coronavirus vaccines, a Reuters Poll showed. The median estimate in the Aug. 11-24 poll of 22 analysts and fund managers forecast the benchmark Nikkei index would gain 6.2% from Tuesday's close of 27,732.1 to reach 29,450 by the end of December. The Nikkei has been hovering below 28,000 over the past month, as the spread of the Delta variant of coronavirus spurred concerns of an economic slowdown even as Japanese companies reported positive outlooks.