TOKYO -- The Nikkei Stock Average closed at 38,157 on Thursday, up 1.2% from the previous day, and reaching a 34-year-high, as chip-related stocks led the market higher, following gains on U.S. stock markets overnight.
The Tokyo benchmark index topped the 38,000 mark at the close of trade for the first time since Jan. 11 1990. Favorable performances and stronger corporate governance have ignited buying of individual stocks, as major companies wrapped up earnings announcements for the April to December period of 2023.
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