Japan-U.S. stock rally spills over beyond tech

Investors snap up riskier issues as economic fears ease

20230613N Nikkei average 33018

The Nikkei Stock Average has topped 30,000 points for the first time in 33 years. (Photo by Satoko Kawasaki)

MANAMI OGAWA and HIROFUMI TAKEUCHI, Nikkei staff writers

TOKYO/NEW YORK -- Share prices from Tokyo to Wall Street have hit new highs for the year in a rebound indicating that investors are now less worried about the economy and more willing to take risks.

The S&P 500 has reached a peak last seen roughly a year ago. Highlighting the gain is the strong rebound by Caterpillar, up 16% since the start of the month.

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