Japanese stocks rose on Tuesday, with the "Nikkei" index recording its highest closing level in 16 months, driven by a surge in steel manufacturing company stocks following robust corporate earnings.
Shares of "JFE Holdings" jumped 14.5%, marking its largest gain in 14 years, after the second-largest steel manufacturer in Japan forecasted an increase in profits due to recovering demand for cars.
"Kawasaki Kisen Kaisha" shares rose 9.3% after posting better-than-expected quarterly results and raising its dividend forecasts.
The "Nikkei" index climbed 1.01% to 29,242.82 points, while the broader "Topix" index increased 1.27% to 2,097.55 points, achieving its highest close since September 2021.
Both "Nippon Steel Corp" and "Kobe Steel" shares rose more than 5% each.
The steel and wholesale trade indices recorded the best performance among the sub-indices on the Tokyo Stock Exchange.
The airline companies index was the only loser among the sub-indices, declining by 0.54%.
