Japanese stocks continue their strong gains and the Nikkei is above the 21,000 mark for the first time since 1996

Japanese stocks closed higher Friday, extending their strong gains for a fifth session in a row, and the Nikkei traded above the 21,000 mark for the first time since 1996 as investors were optimistic that the ruling party led by Prime Minister Shinzo Abe had won the early parliamentary elections.

The Nikkei <.N225> was up 200.46 points, or 0.96%, to close at 21,155.18, the highest level since September 1996. The broader TOPIX index was up 8.49 points, or 0.50%, at 1,708.62.

The Nikkei ended Thursday's session up 0.3%, and the Topix added 0.2%, the fourth consecutive daily gain, in support of the record gains of Wall Street US stock indexes.
This week, the Nikkei gained 2.2%, making its fifth weekly gain in a row, the longest weekly gain since November 2016.

Retailers posted strong gains on the day, with Fast Retail rising 5.5% after the company posted a record profit for the fiscal year ending August.

Most polls in Japan indicate that the ruling party won a comfortable victory in the early parliamentary elections scheduled for October 22, and ensures that Shinzo Abe remains prime minister of the country, continuing broad government spending on the economy and maintaining a longer-term monetary stimulus in the future. .