Nikkei nears 8-month highs; insurers rally after U.S. yields rise
Wednesday, 19 September 2018 10:04 WIB |
MARKET UPDATE |Nikkei 225Saham Jepang
Japan's Nikkei extended its gains to near eight-month highs on Wednesday as investors took heart from a strong performance in Wall Street despite lingering trade war concerns, with financial stocks rallying after U.S. yields jumped.
The Nikkei share average jumped 1.6 percent to 23,804.65 in midmorning trade, the highest level since late January. If the Nikkei tops 24,129.34 hit on Jan. 23, it will be the highest point since November 1991.
The broader Topix also notched a new milestone, rising 1.6 percent to hit more than a three-month high of 1,787.36.
While foreign investors have been net sellers of Japanese stocks to the tune of 7.5 trillion yen so far this year, there are some bright spots, analysts said.