Japanese stocks hit 31-year high on post-Suga expectations

Nikkei Asia | Sept. 13, 2021, 9:02 p.m. | Original

TOKYO -- Japan's benchmark Nikkei Stock Average index temporarily hit a 31 year-high on Tuesday morning, following gains in U.S. stocks.

The Nikkei index opened 137.4 yen higher at 30,584.77 yen, surpassing the closing price of 30,467 yen marked in February and putting it on track to close at the highest level since August 1990. The index's early gains on Tuesday come on top of an 8% rise so far this month.

The stock market rally has been prompted by Prime Minister Yoshihide Suga's decision not to run for re-election in the Liberal Democratic Party's leadership contest scheduled to take place on Sept. 29.

More details to follow.

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