TOKYO: Tokyo's benchmark index finished slightly higher Tuesday after four days of losses, with all eyes on US President Donald Trump's congressional address later in the day.
Trump's promises of new tax cuts and stimulus spending have stoked a global equities rally, but concrete details have yet to materialise, feeding investor doubts about what he has in store.
Trump, however, hinted he would make a "big" announcement on infrastructure policy during an address to a joint session of Congress Tuesday night.
"Those who wanted to hedge risks ahead of Trump's speech seem largely done with their moves," said Toshihiko Matsuno, a senior strategist at SMBC Friend Securities.
"His speech could address infrastructure and military businesses, which will support related company stocks," he told Bloomberg News.
The Nikkei 225 edged up 0.06 percent, or 11.52 points, to close at 19,118.99, while the Topix index of all first-section issues ticked up 0.09 percent, or 1.32 points, to end the day at 1,535.32.
In currency markets, the dollar held up on expectations for higher US interest rates, buying 112.54 yen on Tuesday, slightly off 112.70 yen in New York but still above levels earlier Monday in Asia.
Robert Kaplan, president of the Dallas Fed, repeated his view that interest rates should go up "sooner rather than later", Bloomberg reported, hinting at a possible March hike.
"What Kaplan said may have been something general but the timing of it made people tune into it," Matsuno said.
Sony shares rose 0.69 percent to 3,478 yen, bank Mizuho Financial Group added 0.62 percent to end the session at 209.7 yen, while Uniqlo operator Fast Retailing, a market heavyweight, was up 0.68 percent to close at 35,490 yen.
Toyota lost early gains to finish 0.64 percent lower at 6,365 yen.
Takata fell 0.18 percent to 552 yen after the airbag maker pleaded guilty to fraud and agreed to pay a billion-dollar fine to settle suits over the defective safety devices. Details of the settlement were announced previously.
Toshiba dropped 3.52 percent to 208.2 yen after Japan's Mainichi newspaper reported Tuesday that the loss-hit conglomerate aims to raise up to 2.5 trillion yen ($22 billion) by selling all of its prized microchip business.
Telecom NTT DoCoMo lost 0.76 percent to finish at 2,667 yen after reports said it will likely get $1.17 billion in compensation from India's Tata group for liquidating their joint venture.
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