Japan's stock market has seen significant gains with the Nikkei 225 and Topix indices reaching record highs. The Nikkei 225 hit the 40,000 mark for the first time in nearly three months and closed up 1.26% at 40,580.76. The Nikkei also reached an all-time high, breaking its March record. The Topix index surpassed its 1989 intraday peak, marking an all-time high and powering past its bubble-era peak. The rally in the Topix index indicates strong buying momentum beyond a narrow set of stocks, underscoring the firm foundations of the current market rally.