Japan’s Nikkei rises as the US government shutdown ends, Topix hits record highs

Japan’s Nikkei stock average rose slightly on Thursday after the historic US government shutdown ended, while the broader Topix index hit a record high in closing value buying. The Nikkei rose 0.43% to close at 51,281.83. The Topix rose 0.67% to an all-time high of 3,381.72, extending gains to a fourth session.

US President Donald Trump signed a law on Wednesday that ends the longest government shutdown in the country’s history.In Japan, chip-related Advantest rose 4.24% to become the Nikkei’s biggest gainer.

Fiber optic manufacturer Fujikura advanced 3.16%, while peers Furukawa Electric and Sumitomo Electric rose 12.23% and 7% respectively.

SoftBank Group fell 3.38%, weighing heaviest on the Nikkei. Bank stocks rose, while Mitsubishi UFJ Financial Group rose 2%. Sumitomo Mitsui Financial Group and Mizuho Financial Group rose 1.19% and 2.55% respectively. “Investors started buying value stocks. This move is similar to what is happening in the US,” said Kazuaki Shimada, chief strategist at IwaiCosmo Securities.

Wall Street’s major indexes closed mixed on Wednesday, with the Dow Jones Industrial Average closing at a record high and the Nasdaq losing ground as investors moved out of expensive technology stocks.

“Money is starting to flow into broader stocks and sectors in Japan,” Shimada said.

The utilities sector rose 3.08% and the real estate sector rose 2.08%.

Of the more than 1,600 stocks trading on the main market of the Tokyo Stock Exchange, 59% rose, 37% fell and 3% were flat.