BREAKING: Nikkei Jumps 1.6% as Dow Hits All-Time High on Biden Transition
TOKYO, Nov 25 (Reuters) - Japan shares rose on Wednesday, taking positive cues from Wall Street as Dow Jones benchmark scaled a record high overnight, with investor sentiment lifted by vaccine optimism and fading U.S. election uncertainty. The Nikkei share average rose 1.59% to 26,581.98, having closed at a 29-1/2-year high on Tuesday.
“The overall market is rising today, and cyclical shares are being bought,” said Takashi Hiroki, chief strategist at Monex Securities.
The Dow Jones broke past 30,000 for the first time and the S&P 500 also closed at a record high as investors anticipated a swift economic recovery on coronavirus vaccine progress and President-elect Joe Biden’s transition to the White House.
The broader Topix added 1.15% to 1,782.72, extending gains from a more than two-year high marked in the previous session.
All but four of the 33 sector sub-indexes on the Tokyo exchange traded higher.
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