Stocks Surge in Japan; Key Index Sets Mark

Japanese stock prices shot up on heavy buying again Tuesday, pushing the main index to a record close for the second straight day and lifting the Nikkei index over the 31,000 mark for the first time.

Brokers said the buying was fueled by optimism over the start of a new imperial era and expectations of further rises.

The Nikkei 225-share index closed up 328.12 points, or 1.07%, at a record 31,006.51. It broke through 31,000 for the first time just before the close to 31,004.47.

The Nikkei soared 468.85 points on Monday to close at the previous high of 30,678.38.