Market sentiments also bolstered by reports that Russia and Ukraine are nearing a deal that would end the blockade on grain exports, and that Nord Stream 1 is likely to restart gas exports on schedule after maintenance is completed.
At closing bell, the 225-issue Nikkei Stock Average advanced 71858 points, or 2.67%, to 27,680.26, its highest close since 10 June 2022. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 43.65 points, or 2.29%, to 1,946.44.
Tech shares led the surge, with Advantest, Screen Holdings and Tokyo Electron rallying 4-5%. Technology investor SoftBank Group advanced 2.4%.
Japan Airlines rose 2% even as a report said the airliner would relocate about 3,000 employees to other businesses, such as low-cost carrier operations, as travel demand remains weak.
Shares of Toyota Corp advanced after the Japanese automaker statement that its production in August would be around 7 lakh units, lower than the previously announced figure of 850,000 units, due to a parts shortage related to Covid disruptions.
CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.503, after falling sharply. The Japanese yen traded at 138.13 per dollar, stronger than the levels seen last week.
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