The Japanese Nikkei rises nearly 4% and closes at all-time highs as the liquidation of precious metals stops & more related news here

The Nikkei rose 3.92% to 54,720.66 in its biggest daily gain since October 25.

On Monday, the index erased most of its early gains to close down 1.25% as precious metals prices fell.

The broader Topix rose 3.1% to 3,645.84 on Tuesday.

“The market was worried about the impact of the sell-off in precious metals in the previous session on other assets. But stocks in the United States and Europe were strong overnight,” said Shuutarou Yasuda, market analyst at Tokai Tokyo Intelligence Laboratory.

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“That led investors to buy shares in today’s session,” he said.

The market also welcomed strong US factory activity data as a sign of the economy’s strength, which also became a signal for the rally in Japanese stocks, Yasuda said. The S&P 500 closed higher on Monday, boosted by gains from chipmakers and other AI-related companies, while smaller companies also rose sharply.

The other two major indexes, the Nasdaq and the Dow Jones Industrial Average, also rose.

In Japan, chip testing equipment maker Advantest rose 7.1% and chip manufacturing equipment maker Tokyo Electron rose nearly 4.79%.

Fiber optic cable maker Fujikura rose 9.67%.

TDK shares rose 11.43% after the electronic components maker raised its annual profit forecast for the year to March.

Yamaha Motor fell 10% to become the Nikkei’s worst percentage loser after the motorcycle maker cut its annual profit forecast for the year ending in December.

Of the 225 stocks on the Nikkei, only 16 fell.

Of the more than 1,600 stocks listed on the Tokyo Stock Exchange’s main market, 84% rose and 13% fell, while 2% remained stable.