Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen.
"The trigger for everything was Nvidia," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.
The Nikkei is easily swayed by moves in the big tech stocks, relative to the Topix, and that sets the index up to outperform, he added.rose as much as 1.36% to 2,175.13 in early trading but failed to get close to last week's 33-year high at 2,188.66. It finished the day up 0.69% at 2,160.65. Lifting the mood across the Japanese market early on, U.S. President Joe Biden said on Sunday he had finalized a budget agreement with House Speaker Kevin McCarthy and the deal was ready to move to Congress for a vote.
Meanwhile, the yen dropped to the cusp of 141 per dollar for the first time in six months, buoying the value of overseas revenue for Japanese exporters.
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