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Markets

Japan's Nikkei hits fresh 30-year high on US stimulus bets

Index climbs to 27,900 as investors also hope for semiconductor revival

Sentiment for global equities got a major boost this week after President-elect Joe Biden's Democratic Party won control of the U.S. Senate in runoff elections, which will make it easier for his government to use big fiscal spending to stimulate the economy.

TOKYO (Reuters) -- Japanese stocks surged on Friday to a 30-year peak as optimism about further fiscal stimulus under incoming U.S. President Joe Biden and an improving outlook for semiconductor demand boosted investor appetite for riskier assets.

The Nikkei 225 Index was up 1.49% at 27,900.64 by 0200 GMT. The benchmark index surged to the highest since August 1990 shortly after the opening bell, with technology, raw materials, and banking shares leading the advance.

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