Nikkei hits new one-month high after Wall Street sets record

September 13, 2017

TOKYO- Stocks extended their winning streak to a third session on the Tokyo Stock Exchange Wednesday, backed by Wall Street's record-breaking advance overnight, lifting Japan's Nikkei share average to a fresh one-month closing high.

The 225-issue Nikkei average rose 89.20 points, or 0.45 pct, to 19,865.82, its highest finish since Aug. 8. On Tuesday, the key market gauge surged 230.85 points.

The TOPIX index of all first-section issues ended up 9.88 points, or 0.61 pct, at 1,637.33, after gaining 15.19 points the previous day.

Sentiment improved after all three major US stock indexes--the Dow Jones industrial average, the S&P 500 index and the tech-heavy Nasdaq composite index--hit new closing highs on Tuesday.

The advance on Wall Street reflected receding geopolitical risks linked to North Korea and easing concerns over the impact of Hurricane Irma on the United States, brokers said.

"A risk-on mood began to spread in the (Tokyo) market, which was supported mainly by short covering on Monday and Tuesday," an official at a bank-linked securities firm said. Jiji Press