Japanese stocks within touching distance of all-time high

One of Japan’s benchmark indices came close to breaking its all-time high on Friday.

The Nikkei 225 rose as much as 1.9 per cent to trade at 38,865 during the morning session. The index hit an all-time intraday high of 38,957 on the final day of trading in 1989, the era of the country’s bubble economy.

Japan’s Topix, which is less exporter-oriented, rose 1 per cent. Hong Kong’s Hang Seng index, meanwhile, added 0.5 per cent and South Korea’s Kospi gained 0.7 per cent.

The S&P 500 closed at a record high on Thursday despite a decline in Big Tech stocks.