The benchmark Nikkei average finished above 24,000 for the first time in eight months on the Tokyo Stock Exchange on Wednesday, extending its winning streak to an eighth session.

The 225-issue Nikkei average gained 93.53 points, or 0.39 percent, to end at 24,033.79, its first close above 24,000 since Jan. 23. It rose 70.33 points on Tuesday.

But the Topix was down 0.77 point, or 0.04 percent, at 1,821.67, snapping its seven-session winning streak. It advanced 18.42 points the previous day.

Both indices were weaker in the morning, as many stocks went ex-dividend, but they recouped their losses in the afternoon amid a continuing bullish market mood, brokers said.

“The ex-dividend impact aside, the market was strong today,” said an official at a bank-linked securities firm. The ex-dividend impact on the Nikkei was some 159 points, the official said.

Foreign traders were apparently repurchasing Japanese stocks after sell-offs earlier this year, said Hiroaki Hiwada, strategist at Toyo Securities Co.

Explaining the Nikkei’s rise, Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management Co., pointed to the strength of high-priced components heavily weighted in the index, such as SoftBank and Fast Retailing.

Some investors were content to await the outcome of the U.S. Federal Reserve’s two-day policy meeting, which runs through Wednesday, and of a summit between Prime Minister Shinzo Abe and U.S. President Donald Trump later Wednesday, brokers said.

Rising issues outnumbered falling ones 1,049 to 918 in the TSE’s first section, while 64 issues were unchanged.

Volume decreased to 1.489 billion shares from 1.835 billion shares Tuesday.

Higher crude oil prices drove oil names higher, including Idemitsu, Showa Shell, JXTG and Cosmo Energy.

Takeda went up 1.64 percent after Daiwa Securities Co. raised its investment rating on the pharmaceutical firm.

Among other winners were cosmetics maker Shiseido and daily goods manufacturer Kao.

Automakers met with selling after Germany’s BMW AG on Tuesday cut its 2018 profit forecast, brokers said. Major losers included Toyota, Honda, Nissan and Subaru.

Also lower were megabank groups Sumitomo Mitsui and Mizuho, and industrial robot-maker Fanuc.

In index futures trading on the Osaka Exchange, the key December contract on the Nikkei average rose 260 points to end at 24,000.

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