Japan's Nikkei Hits Record High Amid BOJ Board Nominations and Tech Stock Gains

Japan's Nikkei 225 index reached a new record high, rising 2.2% to 58,583.12, driven by gains in technology and semiconductor stocks. The broader Topix index also advanced 0.7%. The market reacted positively to the nomination of two dovish-leaning academics to the Bank of Japan's board by Prime Minister Sanae Takaichi's government, which reduced expectations of an imminent policy rate hike. Meanwhile, Nippon Steel shares declined following a convertible bond sale.