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Japanese shares hit a 26-year high on Tuesday, helped by gains on Wall Street during a the Asian country’s holiday and as a weaker yen lifted investors’ appetite for risk.
In midmorning trade, the Nikkei was up 0.4 per cent at 23,818.01 after hitting as high as 23,952.61 earlier, its highest since November 1991.
Japanese markets were closed on Monday for a national holiday, according to Reuters.
Fast Retailing Co rose 2.3 per cent after the clothing company said on Friday that its same-store sales at its Uniqlo clothing outlets in Japan rose 18.1 per cent in December on the year.
Fast Retailing contributed a hefty 25 positive points to the Nikkei index, the biggest contributor.
Chip making equipment manufacturers and electronic components makers outperformed, with Tokyo Electron rising 1.7 per cent and TDK Corp adding 1.2 per cent.
Elsewhere, paper stocks lost ground, with Oji Holdings shedding 1.4 per cent and Nippon Paper Industries skidding 0.2 per cent.
The broader Topix was 0.2 per cent higher at 1,884.15 after touching 1,895.26, a level not seen since June 1991.