Nikkei rises to one-month high driven by Wall Steel strength

Japan’s Nikkei rose to a one-month high on Tuesday, led by technology heavyweights, after strong retail sales data helped Wall Street close higher overnight.

Also boosting risk sentiment, data showed a surge in Japan’s factory output in November as production in the auto sector benefited from a recovery in global parts supplies.

The Nikkei share average rose 1.37% to close at 29,069.16, its highest since Nov. 25. The broader Topix advanced 1.37% to 2,005.02.

The S&P 500 index ended at a record high in its fourth straight session of gains, as an ecommerce-powered boom in retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.

Technology stocks led gains, with chip-making equipment maker Tokyo Electron rising 1.81%, air-conditioner maker Daikin Industries climbing 2.7% and robot maker Fanuc gaining 2.47%.

Game maker Sony Group led the Topix gains with a 2.3% jump.