Japan’s Nikkei 225 stock index achieved a new record and broke 51,000 on Wednesday, only two days after it passed 50,000 for the first time.

The benchmark rose at the open and crossed 51,000 at around 10 a.m. It rose as high as 51,412.97 during the day, and closed at 51,307.65, up 2.17%.

The stock rally in Tokyo tracked days of record-setting performance in Wall Street, with the three major indexes in the U.S. rising to all-time highs over the past few days.

Optimism about a deescalation in the U.S.-China trade dispute has also helped fuel the rally.

On Wednesday, U.S. President Donald Trump signaled he was willing to lower fentanyl-related tariffs on China as he departed Tokyo for South Korea, where he is expected to meet with Chinese President Xi Jinping for the first time since returning to the White House in January.

“I expect to be lowering that because I believe they can help us with the fentanyl situation,” Trump told reporters on Air Force One. “We have to get rid of it.”

Advantest shares rose 22.07% on Wednesday. SoftBank Group rose by 3.9%, while Hitachi was up 3.68%.

The benchmark is now up almost 32% over the past year.

It has been on a particularly strong run since Sanae Takaichi, now prime minister, was named leader of the Liberal Democratic Party in early October. Her support for easy money has helped drive stocks higher in what has become known as the “Takaichi effect.”

The visit by Trump this week helped boost sentiment as his summit with Takaichi was generally seen as a success in promoting goodwill and constructive discussion.

On Wednesday, the yen was trading at about ¥152 to the dollar.