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Japanese stocks rose to a 30-year high on Tuesday as progress in the distribution of coronavirus vaccines boosted expectations that the global economy is poised for a strong recovery.
Japanese shares extended gains for a second consecutive session on Tuesday, recovering from last week's sharp sell-off, while growing optimism about corporate earnings both domestically and in the United States also boosted sentiment.
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TOKYO, Feb 2 (Reuters) - Japanese stocks ended higher for a second consecutive session on Tuesday, recovering from last week’s sharp sell-off, as growing optimism around domestic and U.S. corporate earnings boosted sentiment.
The Nikkei index closed up 0.97% at 28,362.17 points, with consumer goods, materials makers and real estate companies leading gains. The broader Topix rose 0.83% to 1,844.91.
Japanese stocks took their lead from an overnight jump in U.S. tech shares ahead of earnings from Amazon.com and Alphabet Inc later in the day.
In addition, many Japanese companies are reporting earnings this week, and some investors are betting that a gradual recovery in the global economy will lift profits.