Nikkei 225 closes at fresh 33-year high

The Nikkei Stock Average continued its climb on Monday, finishing at a fresh 33-year high. The gains reflect rising investor confidence as many Japanese firms report robust earnings and issue bullish forecasts.

The index ended the day at 31,086, up 0.9 percent from Friday. It was the first close over 31,000 since July 1990.

The benchmark is on an 8-day winning streak. Many foreign investors are shifting money to Japanese shares as they worry about the impact of interest-rate hikes on the US and European economies.

Overseas investors are also picking up Japanese government bonds. They bought more than they sold in April.

The Japan Securities Dealers Association says their net buying, excluding short-term issues, was 1.96 trillion yen, or about 14 billion dollars. It was the 3rd straight month of net foreign purchases.

Overseas investors apparently bought the bonds as speculation receded that the Bank of Japan would adjust its monetary easing policy.

Many view recent comments by BOJ governor Ueda Kazuo as indicating the central bank will stick to monetary easing.