At closing bell, the 225-issue Nikkei Stock Average index added 220.85 points, or 0.61%, to finish at 36,286.71. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 24.17 points, 0.96%, to 2,551.10.
Shares of banks and financials advanced on the prospect of higher interest rates after a summary of opinions from the Bank of Japan's January meeting hinted the central bank is preparing to shift from its ultraloose monetary policy.
Export related shares were up as the yen's depreciation in the upper 147 yen range against greenback.
ECONOMIC NEWS: Japan experienced a boost in consumer confidence in January 2024, with the index climbing to 38, marking its highest point since December 2021. This positive shift was evident across all key components, including overall livelihood, which saw an increase of 0.8 points to 36.5. Additionally, willingness to buy durable goods rose by 1.4 points to 32.8, while sentiments toward employment improved by 1.0 points to 42.9. The index's positive trend also extended to income growth, with a slight uptick of 0.1 points to 39.7. These improvements reflect a more optimistic outlook among Japanese households as they assess various aspects of their economic well-being.
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