TOKYO, Oct 1 (AFP): Tokyo's benchmark Nikkei index rose to a 27-year high on Monday, boosted by a weak yen and a breakthrough in trade talks between the United States and Canada.
The Nikkei 225 index gained 0.52 per cent or 125.72 points to close at 24,245.76 -- the highest since November 1991 when Japan Inc was closing the final chapter of the nation's speculative "bubble" economy.
"Reaching a 27-year high is symbolic but still a stop on the road to further gains," Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told the news agency.
The Topix index edged up 0.04 per cent or 0.71 points to 1,817.96.
The increases were driven in part by a rise in the yen to 113.95 yen in afternoon trade, from 113.67 yen late Friday in New York.
"The 113-yen level is definitely positive for Japanese exporters," Hikaru Sato, senior technical analyst at Daiwa Securities, told AFP.
And analysts said a breakthrough in a trade deal renegotiation between Canada and the US also boosted the market.
The deal, which includes Mexico, came after more than a year of talks to revamp the North American Free Trade Agreement that President Donald Trump has labelled a disaster.
"While the market maintained its strong momentum, it would be no surprise to see investors cash in on the recent gains at any time," Sato said.
Nikkei index closes at 27-year high
FE Team | Published: October 01, 2018 23:30:31
Nikkei index closes at 27-year high
Share if you like