Japanese stock markets @ 52 week high

Japan's benchmark index Nikkei hit its highest closing level on Tuesday since a massive earthquake and tsunami triggered a radiation crisis on March 11 last year. The index rose 2.4%, or 236.91 points, to 10,255.15, while the broader Topix index also climbed 2.4% to 872.42.

The Nikkei has surged 21.3% so far this year in 2012 due to robust US economic data and easing programmes by global central banks.

But Japanese equities are still considered undervalued compared with their global peers. The Topix carries a 12-month forward price-to-book ratio of 0.98 compared with the S&P 500's 2.0.

Japanse Stock Markets down to 30 months Low

Japan's benchmark index Nikkei average fell 2.2% to 8,590.57 on Tuesday to a two and half year closing low after sovereign debt fears pummelled European stocks. The broader Topix index fell 1.9% to 741.20.

Some 2.1 billion shares changed hands on the Tokyo stock exchange today, higher than last week's average volume of 1.81 billion shares.