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Japan's Nikkei hits 3-week high on Wall Street strength, dovish BOJ
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Japan's Nikkei hits 3-week high on Wall Street strength, dovish BOJ
Oct 3, 2024 12:48 AM

TOKYO, Sept 24 (Reuters) - Japan's Nikkei share average

hit a three-week high on Tuesday as markets resumed trade after

a long holiday weekend, with Wall Street's overnight gains and

the Bank of Japan's dovish comments lifting sentiment.

The Nikkei was up 1.5% at 38,293.34, as of 0024 GMT,

after rising to 38,324.07, its highest since Sept. 3, earlier in

the day. Japanese markets were closed on Monday for a holiday.

U.S. stocks closed modestly higher on Monday as investors

assessed whether a trend would develop in the week following the

Federal Reserve's rate cut.

The BOJ kept interest rates steady on Friday and its

governor said the central bank could afford to spend time eyeing

the fallout from global economic uncertainties, signalling it

was in no rush to raise borrowing costs further.

Chip-related stocks led the Nikkei's gains, with Advantest ( ADTTF )

and Tokyo Electron ( TOELF ) rising 4% and 2.7%,

respectively.

Uniqlo-brand owner Fast Retailing ( FRCOF ) rose 1.25%.

The broader Topix was up 1.02% at 2,669.34, with

Toyota Motor ( TM ) gaining 0.72% to become the biggest boost.

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