In Tokyo, the Nikkei 225 jumped 2.7% to 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on Dec. 29, 1989.

The benchmark was buoyed by strong gains in heavyweights like Mitsubishi Heavy Industries, which surged 4.6%, apparel maker Fast Retailing, also up 4.6%, and technology and energy company SoftBank, which gained 4.2%.

Other Asian shares were also mostly higher.

Hong Kong’s Hang Seng index rose 0.9% to 26,557.18. In South Korea, the Kospi edged 0.1% higher to 2,814.16. Australia’s S&P/ASX 200 climbed 0.5% to 6,700.30.

The Shanghai Composite index fell 0.3% to 3,386.57. Shares fell in Taiwan and Indonesia but rose in Malaysia and Singapore.