Nikkei Index at Highest Level Since 2000

Japan's Nikkei index topped 16,000 points Monday rising to the highest level since 2000. This rise was attributed to broad-based buying, with shares in textiles, banks, and retailers up.

The Nikkei has risen more than 31 percent this year alone on hopeful optimism for Japan's economic recovery. "The market continues looking upside," said Hiroichi Nishi with Nikko Cordial Securities.

The Nikkei is still far below its all-time closing high of 38,915.87 set Dec. 29, 1989.