Japan's Nikkei hits fresh 34-year peak, set for best week in 22 months

A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Nov. 16, 2023, in Tokyo. (AP Photo/Eugene Hoshiko)

TOKYO: Japan's Nikkei share average reached a fresh 34-year peak on Friday as it headed for its best week since March 2022, driven both by receding bets on an early exit from the Bank of Japan's stimulus and sheer momentum as foreign investors returned.

The Nikkei entered the midday recess up 1.06% at 35,422.95, after shooting up as much as 2.25% shortly after the open to reach 35,839.65 for the first time since February 1990.