- Nikkei closes above the 28,000 mark for the first time since March.
- The dollar fetched 133.03 yen in Asian trade.
- Global markets also hailed China’s recent moves including the gradual easing.
Tokyo stocks rose on Wednesday, matching gains on Wall Street, as a weaker yen boosted exporters.
The Nikkei 225 index gained 1.04 percent, or 290.34 points, to close at 28,234.29, while the Topix index gained 1.18 percent, or 22.95 points, to 1,969.98.
The dollar fetched 133.03 yen in Asian trade, its highest in two decades.
Blue-chip shares were higher, lifting the Nikkei above the 28,000 mark for the first time since March as it notched a four-day winning streak.
Read More: Tokyo stocks close lower on inflation worries
“There is speculation about profit-taking in the immediate future, but buying appetite remains very healthy,” Okasan Online Securities said.
Global markets also hailed China’s recent moves including the gradual easing of Covid-19 rules and indications it could be bringing a tech crackdown to an end.
“The bounce in risk sentiment is due to a more positive China tilt where the outlook is set to brighten up as Covid restrictions ease, and state-owned banks are obliged to increase lending again,” said Stephen Innes of SPI Asset Management.
Investors are turning their focus to a European Central Bank policy meeting, as well as US consumer price data due later this week.
Among major shares, SoftBank Group rose 2.45 percent to 5,563 yen and Sony Group added 1.81 percent to 12,345 yen. Nintendo rose 0.87 percent to 58,950 yen.
Toyota surged 1.80% to 2,230.0 yen, while ENEOS Holdings increased 0.33 percent to 570.9 yen.
However, Mitsubishi UFJ Financial Group declined 0.92 percent to 742.5 yen, while Advantest, a leading manufacturer of semiconductor testing kits, dropped 1.79 percent to 8,790 yen.
Read More: Tokyo stocks close higher
