Nikkei 225 closes up 2.4% at 69,946.86

The Nikkei's outperformance of the TOPIX points to index-level and large-cap leadership rather than uniform risk appetite, since the broader market lagged by more than a full percentage point. That gap is the more informative detail for anyone tracking Japanese equity flows, as it suggests gains were concentrated rather than broadly distributed despite the headline framing. Whether that divergence persists into the next session is the open question.