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Tokyo stocks gain and Dow reaches new high on vaccine progress

Market moves from 'hope' to 'growth' as profits rebound, Goldman strategist says

The New York Stock Exchange: The Dow Jones Industrial Average has climbed to near 30,000 on COVID-19 vaccine hopes.    © Reuters

NEW YORK/TOKYO -- Japan's benchmark Nikkei stock index closed at its highest level in almost three decades on Tuesday, following similar gains on Wall Street propelled by fresh news of progress toward a COVID-19 vaccine.

The Nikkei Stock Average ended the day at more than 26,014, up over 107 points or 0.4% from the day before. It was its first close above 26,000 since May 1991.

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