Japanese stocks close on firm note

Japanese stocks spiked on firm cues from the US markets and supportive US economic cues. The Nikkei average rose 1.30 percent to 38,780.14. The broader Topix index added 0.71 percent to close at 2,715.60. Tech stocks stayed firm as most Asian stocks rose after U.S. President-elect Donald Trump choose hedge fund manager Scott Bessent to be his Treasury secretary. Bessent's reputation for stability and his past advocacy for gradual economic policies pushed up risk appetite. Meanwhile, on Friday, the Dow rose by 1% with strong performances in networking, housing and banking stocks. The major averages all ended the day in positive territory.

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