Japanese benchmark jumps 3.1% on tech rally

The Japanese benchmark Nikkei 225 jumped 1627 points or 3.1 percent to close trading at 53,567.00 amidst a strong tech-led rally. Reports of likely snap elections to further boost the government's parliamentary majority added to the positive sentiment. The day's trading range was between 53,472.50 and 53,997. Meanwhile, amidst political uncertainty, Japan's 10-year government bond yields touched a 27- year high.

Pacific Metals led gains with a surge of more than 10 percent. Lasertec Corp, Advantest Corp, Kawasaki Heavy Industries, Tokyo Electron, all rallied more than 8 percent in the day's trading.

Nitori Holdings Co led losses with a decline of 4.7 percent. Seven & I Holdings lost 3.2 percent. Sumitomo Dainippon Pharma, Nintendo, Yaskawa Electric Corp, all declined more than 2 percent.

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