Japan’s benchmark stock index hit a 34-year high on Wednesday, driven by strength in technology stocks and a falling yen, which should boost exporter profits.
The Nikkei Stock Average rose 2% on Wednesday to 34,441.72 points, its highest end-of-day level since February 1990. The index is approaching a record closing high of 38,915.87 points set in December 1989.
Nintendo shares hit a record closing high of 7,823 yen on Wednesday, or about $54.14. Shares of the video game company have been rising since late last year, reflecting earnings and strong expectations about the potential launch of a new console to replace the current Switch model.