Nikkei average hits 33-year high on capital spending hopes

Machinery joins semiconductors in driving up stock prices

20230703 NIKKEI index

Domestic fixed investment in manufacturing is expected to rise 23.2% in fiscal 2023, according to the Bank of Japan's latest Tankan survey. (Photo by Mayumi Tsumita)

HIROKI MASUDA, Nikkei staff writer

TOKYO -- Japanese shares rebounded on Monday, with the Nikkei Stock Average rising 564.29 points, or 1.7%, to 33,753.33 -- a level not seen since March 1990.

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