The Nikkei 225 index rose 0.5% to above 39,700 while the broader Topix index gained 0.9% to 2,765 on Tuesday, extending gains from the previous session and taking cues from a strong lead on Wall Street as a post-election rally sent major U.S. indexes to all-time highs. The rally was fueled by optimism surrounding a Trump victory and a possible Republican landslide in Congress, raising expectations for deregulation and tax cuts.
In Japan, investors were focused on the Bank of Japan's monetary policy outlook after the latest minutes of its opinion revealed a split among policymakers over the timing of future interest rate hikes. Markets also continued to assess the implications of a sharply weaker yen, which has added uncertainty to the economic landscape. Significant gains were seen in Mitsubishi Heavy Industries (+2.2%), Mitsubishi UFJ Financial Group (+1.9%), and SoftBank Group (+0.17%). In corporate news, Recruit Holdings jumped 5.7% after reporting strong quarterly earnings.
Source: Trading Economics
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