TOKYO: Tokyo’s benchmark Nikkei index climbed 1.62 percent to a fresh 15-year high Tuesday morning on hopes for a Greek bailout deal.
The Nikkei 225 index soared 330.49 points to 20,758.68 by the break, breaching 20,700 for the first time since April 2000. The Topix index of all first-section issues was up 1.53 percent, or 25.23 points, at 1,673.84.
The gains followed rallies in European and US markets.
“Advances in the Greek situation are behind the flow of funds into US and European stocks,” Toshihiko Matsuno, chief strategist at SMBC Friend Securities, told Bloomberg News.
“It’s difficult to judge without knowing the proposal’s contents in detail, but the market appears to be seeing it as a step forward.”
Greece offered on Sunday an 11th hour proposal of economic reforms in exchange for the last payment of 7.2 billion euros from its current aid programme.
Eurozone leaders said they hoped to finally seal a deal this week to save Athens from default and a possible exit from the euro, but Germany warned that more hard work was needed.
The euro inched down to $1.1264 and 139.33 yen from $1.1340 and 139.91 yen in New York late Monday.
