The 225-issue Nikkei Stock Average index surged 426.09 points, or 1.08%, to finish at 39,773.31. The broader Topix index of all First Section issues on the Tokyo Stock Exchange spurted 26.37 points, 0.97%, to 2,754.69.
Total 28 of 33 TSE sectors closed higher, with Nonferrous Metals being top performer, up 3.74%, followed by Wholesale Trade (up 2.3%), Air Transportation (up 1.9%), Real Estate (up 1.83%), and Transportation Equipment (up 1.67%) sectors, while Pulp & Paper was bottom performer (down 0.66%).
Shares of export related companies were higher, helped by a weaker yen, with Tokyo Electron jumping 3.5% to 38,990 yen and Advantest rising 1.1% to 6,031 yen. Toyota advanced 2.1% to 3,776 yen.
ECONOMIC NEWS: Japan's Consumer Confidence Hits Highest Level Since 2019- Japan's consumer confidence rose to 39.5 in March 2024, up from 39.0 in February, marking its highest level since April 2019. Sentiments improved across key components, including income growth, employment, and willingness to buy durable goods, while overall livelihood sentiment remained unchanged.
CURRENCY NEWS: Japanese yen depreciated to the upper 151 range against greenback. At 5 p.m., the yen quoted at 151.88 per US dollar compared to 151.78 in Tokyo at 5 p.m. on Monday.
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