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It reached 8,864.16 points earlier this morning, breaking through the settlement price for September Nikkei futures and options of 8,732.
The latest gains also pushed it above the 25-day moving average of 8,809 as firms such as Nomura Holdings and Sumitomo Mitsui Financial Group rose by 5.5 per cent and 4.1 per cent respectively.
One of the organisations to make the largest gains was Olympus, which soared 7.4 per cent to 2,225 yen.
Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management, told Reuters that the meeting between the US Treasury secretary Timothy Geithner and finance ministers from Europe is likely to have a significant impact on the market.
"If the meeting does succeed in calming fears of a spreading eurozone crisis and US shares manage to continue gaining, the Nikkei could rise above 9,000 next week," he stated.
On September 1st the Nikkei closed at 9,060.80, but since then it has not broken the 9,000-point barrier.
Posted by Greg Secker
