Tokyo stocks close higher after Wall Street gains

TOKYO: Tokyo stocks closed higher on Thursday despite a stronger yen, snapping a three-day losing streak, after Wall Street finished with gains on surprisingly positive US inflation data.

The benchmark Nikkei 225 index advanced 1.47 percent, or 310.81 points, to close at 21,464.98, while the broader Topix index was up 0.97 percent, or 16.55 points, at 1,719.27. In the US and Europe, stock markets wavered on Wednesday on surprisingly strong American inflation data, but rallied to finish higher in both markets.

"Despite the strengthening of the yen to the 106 level, shares of various companies are being purchased, tracking gains in the US and Europe," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

The dollar fetched 106.49 yen in Asian trade, down from 106.98 yen in New York and 107.22 yen in Tokyo on Wednesday.

Kirin Holdings surged nearly 7.0 percent to 2,721.5 yen after its annual net profit jumped 62.5 percent the previous day.

Tokyo Electron, a major manufacturer of chip-making equipment, jumped 4.62 percent to 20,060 yen.

Sony rose 1.87 percent to 5,173 yen while Mazda fell 0.77 percent to 1,476 yen.

Mega bank Mizuho Financial Group was up 1.13 percent at 196.3 yen and its rival Mitsubishi UFJ rose 1.82 percent to 772.9 yen.