The Japanese stock market seems to be the new hot spot for investors, with the Nikkei index hitting a new all-time high on Monday morning.
Tokyo stocks rose in the morning hour trading as a wide range of issues were bought following Wall Street gains last week.
According to Kyodo News, the 225-issue Nikkei Stock Average rose 211.12 points, or 0.54 percent, from Thursday to 39,309.80.
The broader Topix index was up 22.37 points, or 0.84 percent, at 2,683.08.
Stocks were higher from the outset, with buying spurred by the US Dow Jones index’s record close late last week after the benchmark Nikkei set a new all-time high Thursday for the first time since December 1989.
Japanese markets were closed Friday for a public holiday.
Market analysts said gains were limited as investors awaited a fresh batch of Japanese and US economic data due out later this week.
“To surpass 40,000, a positive outlook for the Japanese economy or some other catalyst seems necessary. This week is therefore likely to be one of consolidation toward solidifying the base for breaching the 40,000 threshold,” Kyodo News report said, quoting Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co.
Meanwhile, the US dollar remained mostly unchanged in the mid-150 yen level in Tokyo amid a lack of fresh trading cues.
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