Canon Inc., which gets 27 percent of its sales from the Americas, jumped 3.9 percent. Advantest Corp., the world’s largest maker of memory-chip testers, gained 2.5 percent after Taiwan Semiconductor Manufacturing Co.’s projection for global demand boosted U.S. chip shares. Mitsubishi Corp., a trading company that gets 41 percent of its sales from commodities, climbed 2.3 percent after prices for oil and metals rose yesterday.
The Nikkei 225 Stock Average increased 1.8 percent to close at 10,067.15 in Tokyo. The broader Topix index rose 1.5 percent to 892.38 with all but one of its 33 industry groups gaining. Both gauges climbed for a fifth day, the longest streak of advances in at least five months.
“The continuing improvement in earnings will drive down valuations even further, so there is little concern that the market will decline,” said Hiroyuka Maruyama, Global Markets CEO at Oppenheimer Lloyd in Tokyo, which oversees about $6 billion in Tokyo. “We are bullish on the U.S. economy,” the Oppenheimer Lloyd CEO said.
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