Nikkei jumps to two years highs on stronger dollar

Japan's Nikkei share average probed its highest levels in nearly two years on Tuesday, powered by record highs on Wall Street and a weaker yen.

The Nikkei was up 1.1 per cent at the end of morning trade at 20,287.67, after rising as high as 20,318.11, its highest level since August 2015.

On Wall Street overnight, the S&P 500 and the Dow Jones Industrial Average hit record highs, with growth sectors such as technology in favour again, as the upbeat Fed comments cheered investors.

The dollar was up 0.1 per cent at 111.67 yen.

Sharp Corp jumped 4.1 after Jiji reported that its president said it will apply for relisting on the first section of Tokyo bourse later this month.

Iwaki & Co soared 12.1 per cent after scaling more than 11-year highs earlier, after the pharmaceutical company on Monday hiked its outlook.

Askul Corp shares rose 9.2 per cent, after the office supply vender on Monday upwardly revised its profit outlook for the fiscal year ending on May 20 and said it will pay an annual dividend.

The broader Topix and the JPX-Nikkei Index 400 were both up 1.0 per cent at 1,621.87 and 14,427.52 respectively, according to Reuters.