The Nikkei index closed at its highest level in nearly six months on Wednesday as investors bought cheap stocks in hopes of an economic recovery, while SoftBank's stock jumped on Share exchange deal with Deutsche Telekom.
According to Arabiya Net, the Nikkei rose 0.89% to 30,181.21 points, its highest level since March 18. The broader Topix index advanced 0.79% to 2079.61 points.
Suichi Arissawa, general manager of investment research at Iwai Kosmo Securities, said: "Foreign investors, who had little interest in Japanese stocks, realized how cheap they were." /p>
Recent declines in Japanese markets have lowered stock values. The latest gains came after Japanese Prime Minister Yoshihide Suga's surprise announcement last week that he would not seek re-election as his party's leader.
His Liberal Democratic Party holds a leadership election on September 29, with the winner almost certain to become Japan's next prime minister.
SoftBank's stock closed up 4.64% after it concluded a $7 billion share swap deal with Deutsche Telekom.
SoftBank's stock recorded the best performance over the Nikkei, followed by Nikon, which rose 4.18%, and Rakuten Group, which increased 3.89%.
