Nikkei closes below 28,000 level

TOKYO: Japanese equities rose on Tuesday, tracking overnight gains on Wall Street as investors cheered upbeat corporate earnings, but the benchmark Nikkei 225 failed to close above the 28,000 key psychological level for a second straight session.

Like Monday, the Nikkei briefly traded above that level but pared gains before the close amid caution ahead of this week’s Federal Reserve policy meeting and a pick-up in both the US and Japanese earnings seasons.

The Nikkei share average finished the day 0.49% higher at 27,970.22. It hasn’t closed above 28,000 since July 16.

The broader Topix climbed 0.64% to 1,938.04.

On Wall Street, the S&P 500, Dow and Nasdaq all posted record closing highs overnight.