BREAKING - Nikkei Closes at Near Three Decade High as Biden Edges Closer to Win

TOKYO (Reuters) - Japan’s Nikkei index on Friday ended at its highest level in 29 years, tracking strong moves in global equities, as investors hoped a gridlock in U.S. Congress during a possible Joe Biden presidency would be able to stall major policy changes.

The benchmark Nikkei share average closed 0.91% higher at 24,325.23. It marked the highest closing level since November 1991 when markets were in the midst of a crash after Japan’s bubble economy collapsed.

The broader Topix gained 0.52% to 1,658.49.

Among gainers in top 30 core Topix names, Daikin Industries jumped 5.44% after it raised net profit forecast for the year ending March 2021.

Toyota Motor gained 0.5% after it more than doubled its full-year operating profit forecast.

Nintendo pared early gains to close down 0.17% after it hiked annual operating profit outlook.

Eisai was up 3.7% on expectations that the company and its partner Biogen Inc moved closer to receiving the U.S. FDA’s nod for their Alzheimer drug. (Reporting by Eimi Yamamitsu, Editing by Sherry Jacob-Phillips and Uttaresh.V)

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