Tokyo stocks close higher helped by cheap yen

TOKYO: Tokyo stocks closed higher on Tuesday helped by a cheaper yen against the dollar as investors kept their focus on corporate earnings.

The benchmark Nikkei 225 index ended up 0.24 percent, or 68.11 points, at 27,888.15, while the broader Topix index gained 0.36 percent, or 6.94 points, to 1,936.28.

"Following a mixed performance by US shares, the cheaper yen and gains by Chinese shares are seen supporting the Japanese market," senior strategist Yoshihiro Ito of Okasan Online Securities said in a note.

The market, however, lacked the energy to move any higher with investors awaiting SoftBank Group's earnings, released after the market close, he added.

Tokyo stocks close lower

SoftBank Group ended up 0.90 percent at 6,831 yen. After the close, the investment giant said it booked a 39 percent plunge in net profit in the first quarter.

The dollar fetched 110.37 yen in early Asian trade, against 110.35 yen in New York late Monday and 109.82 yen in Tokyo on Friday.

The Japanese market was closed on Monday for a national holiday.

Among other major Tokyo shares, Nippon Steel ended 0.97 percent higher at 2,135 yen, ANA Holdings was up 3.56 yen at 2,590 yen, and pharmaceutical firm Daiichi Sankyo soared 5.20 percent to 2,093 yen.

But shipping firm Nippon Yusen closed down 1.93 percent at 7,620 yen and Sony dipped 2.50 percent to 11,115 yen.