Japan's Nikkei average hits 40,000 mark for 1st time in nearly 3 months

TOKYO -- Japan's benchmark Nikkei Stock Average topped 40,000 points in Tokyo trading hours on Tuesday for the first time in three months. Banks and insurance companies traded higher, as investors speculated the recent rise in market yields may contribute to bigger interest margins for the financial industry.

The average climbed 1.2% from Monday's close, hitting 40,113.48 at one point, an intraday high not seen since April 4. The index closed at 40,074.69, its highest finish since March 29.