TOKYO (Reuters) -Japan's Topix index climbed to a record high on Thursday and the Nikkei share average hit a new one-year peak, as stocks rallied for a second straight session after Tokyo struck a long-awaited trade deal with Washington.

Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

A deal was seen as critical to the survival of Shigeru Ishiba, Japan’s prime minister. But after seven rounds of negotiations, few experts were expecting one.