The index hit a 33-year high on Friday, supported by continued improvement in shareholder returns, strong positive expectations for corporate performance and a weaker yen.
stock movements
The Nikkei index rose 0.9% to 31,086.82 points, its highest close since July 1990, and had the longest streak of consecutive gains since April 2023.
The broader Topix index rose 0.66% to 2,175.90 points.
“The Nikkei’s gains accelerated during the afternoon session, likely as foreign investors attempted to buy more Japanese stocks,” said Chihiro Ota of SMBC Securities.
“But the market may have peaked and its gains may have paused somewhat in the short term due to concerns surrounding the US debt ceiling negotiations,” he added.
The insurance sector led the gaining sub-sectors, with a jump of 2.35%.
The airlines and railways sectors also rose by 2.21% and 1.62% respectively.
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