TOKYO: Tokyo stocks were higher on Wednesday morning although gains were capped as investors locked in profits on the previous day's rise after positive Chinese data.
The Nikkei 225 index at the Tokyo Stock Exchange, which rose 1.05 percent on Tuesday, added 14.59 points or 0.17 percent to 8,480.99. The Topix index of all first-section issues was up 1.37 points or 0.19 percent at 732.90.
Mild profit-taking emerged after stronger-than-expected Chinese growth data triggered equity increases around the world on Tuesday, said Hideyuki Ishiguro, supervisor of investment strategy at Okasan Securities.
"The Japanese market was already up on China data Tuesday," he told Dow Jones Newswires. "We have factored that in."
China said Tuesday gross domestic product rose 8.9 percent in the fourth quarter, slower than in the third quarter but still beating analyst expectations of 8.6 percent.
Analysts said the data suggested that the world's number two economy would avoid a much-feared hard landing despite slumping demand from key export markets in the United States and Europe.
Nuclear crisis-hit electricity utility TEPCO soared 9.26 percent to 224 yen after it said it would raise prices for business users by as much as 18 percent.
Olympus was up 2.59 percent at 1,186 yen amid news reports that president Shuichi Takayama was set to make a formal announcement that he would step down after a shareholders' meeting in the coming months.
Elpida Memory jumped 4.93 percent to 319 yen following a Yomiuri newspaper report that the microchip maker is exploring a tie-up with Micron Technology of the United States.
But some major exporters were lower, with Honda Motor falling 0.89 percent to 2,544 yen and Canon down 0.30 percent at 3,295 yen.
The euro fetched $1.2770 and 97.98 yen in Tokyo morning trade, up from $1.2737 and 97.84 yen in New York late Tuesday.
The dollar bought 76.73 yen against 76.82 yen in New York.
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