Tokyo Stock Exchange Hits Third Straight Record High Amid Soothing US Inflation Data

The Tokyo Stock Exchange saw a record high for the third consecutive trading day on Friday. The Topix index reached an all-time high as investors were eased by a weaker-than-expected U.S. producer price index for July, reducing concerns about inflation.

The Nikkei 225 rose by 405.21 points or 0.59% to reach 68,713.80. The broader Topix index also increased by 21.16 points or 0.51% to close at 4,197.20. Marine transportation, mining, and information and communication shares led the gains in the Prime Market.

The U.S. dollar weakened to around 159 yen after trading in a mid-159 yen zone in Tokyo due to low participant numbers during Japan's summer Bon holidays. The euro was also down at $1.1550-$1551 against $1.1523-$1533 in New York.