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Nikkei index breaches 29,000-mark on strong corporate earnings

Japan's blue-chip gauge up 2%; broader Topix index hits highest since 1991

An electronic board showing the Nikkei Stock Average in Tokyo on Feb. 8: Strong corporate earnings have pushed Japan's stock indexes to around 30-year highs. (Photo by Rie Ishii)

TOKYO -- Japan's benchmark Nikkei Stock Average climbed above 29,000 to its highest point in more than 30 years Monday, as investors welcomed positive earnings reports and progress around U.S. stimulus talks.

The Nikkei index surged to levels not seen since August 1990, gaining over 600 points, or 2%, to close at 29,388. Nearly 90% of the 225 companies comprising the benchmark average were up, while the broader Topix index also jumped nearly to 2%, to its highest level since June 1991.

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