Japan's Nikkei 225 index rose above 51,000 for the first time. U.S. President Donald Trump lavished praise on Japan's first female leader Sanae Takaichi in Tokyo on Tuesday, welcoming the new prime minister's pledge to accelerate a military buildup, while also signing deals on trade and rare earths.

Takaichi, who took office a week ago, is a protegee of Trump's ally and golfing buddy Prime Minister Shinzo Abe who was assassinated in 2022. She repeatedly invoked that legacy with gifts and references to the warm ties between the two men, and applauded Trump's push to resolve global conflicts.

Trump's spokeswoman Karoline Leavitt said the Japanese leader also promised to nominate Trump for the Nobel Peace Prize.

Both governments released a list of projects, opens new tab in the areas of energy, artificial intelligence and critical minerals in which Japanese companies are eyeing investments of up to $400 billion in the U.S.

Tokyo pledged to provide $550 billion of strategic U.S. investments, loans and guarantees earlier this year as part of a deal to win a reprieve from Trump's punishing import tariffs.