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The Nikkei Stock Average hit a 33-year high on Tuesday led by gains in technology stocks following a rally in big tech in the U.S.

The average closed at 33,763.18, up 385.76, or 1.2% from Friday’s close. This was the highest level in 33 years and 10 months, since March 1990, when Japan was experiencing the burst of its economic bubble. The previous high was 33,753.33 recorded about six months ago on July 3, 2023.

The average rose to 33,990.28 at one point during the morning session, up 612.86 points, or 1.8%, from Friday’s close before paring gains, surpassing the previous session high set on Nov. 20.

The broader Tokyo Stock Price Index rose 0.8% to 2,413.09.

Tuesday’s rise was attributable to the tech rally in the U.S., which occurred over Japan‘s long weekend when its stock market was closed.

The biggest drivers of Japan‘s benchmark index include chip-testing device maker Advantest, which was up 8.5% at once point, and chip equipment maker Tokyo Electron, up 4.9%.

The benchmark index hit its all-time high of 38,915 in December 1989. In March 2009, it fell to a post-bubble low of 7,054 as a result of the global financial crisis.