Japanese stocks rise 1.15%

TOKYO: Japanese shares gained 1.15 percent Tuesday on continued hopes for strong domestic and US corporate earnings, dealers said.

The headline Nikkei index at the Tokyo Stock Exchange added 119.31 points or 10,464.42. The Topix index of all first section shares rose 1.32 percent or 12.10 points to 929.28.

Exporters led the gains, driven by solid performances on Wall Street, where the Dow Jones Industrial Average added 0.92 percent, dealers said.

But the upside was limited by expectations of profit-taking ahead and lingering concerns of further tightening moves by China, dealers said.

"Japanese shares have been rising for nearly three months so we can expect further corrections ahead," Masayoshi Yano, senior market analyst at Meiwa Securities, told Dow Jones Newswires.

There was little reaction to the Bank of Japan's widely expected decision to keep its policy interest-rate target unchanged between zero and 0.1 percent, brokers said.

Optimism about US corporate earnings as well as Intel's expanded share buyback plan boosted Japanese chip related shares.

Elpida Memory jumped 2.29 percent to 1,160 yen and Tokyo Electron rose 0.92 percent to 5,450.

Sony added 2.31 percent to 2,919 and Toshiba rose 1.23 percent to 493.

Toyota Motor rose 1.46 percent to 3,465 yen and Honda Motor advanced 1.32 percent to 3,445.