TOKYO: Tokyo stocks closed higher for the fourth straight day on Tuesday after a choppy session that saw both buying – especially of energy stocks – and profit-taking.
The benchmark Nikkei 225 index bounced back from negative territory to end up 0.66 percent, or 178.20 points, at 27,049.47, while the broader Topix index firmed 1.06 percent, or 19.96 points, at 1,907.38 yen.
The dollar stood at 135.45 yen, nearly flat from 135.48 yen in New York late Monday.
A weakening yen in past weeks, “as well as gains of Chinese and Hong Kong shares, encouraged investors to take risks,” Okasan Online Securities said, adding that some investors were buying shares seeking dividend payments.
“The Tokyo market moved without a clear sense of direction,” Daiwa Securities said, with some market players sitting on their hands as they await further data on US inflation.
Uniqlo operator Fast Retailing rose 0.71 percent to 72,000 yen. Expectations are growing for good sales in Japan and China for the casualwear giant, Daiwa said.
Energy developer Inpex jumped 4.88 percent to 1,569 yen as the market cheered gains of oil prices.
Toyota rose 2.17 percent to 2,167.5 yen. Sony Group zigzagged between the red and black before ending up 0.83 percent at 11,600 yen.
Japan’s Nikkei rises for 3rd session on tech boost
Nippon Steel grew 0.68 percent to 1,920 yen and its rival JFE Holdings added 1.19 percent to 1,450 yen.
Semiconductor shares were lower. Advantest, a major producer of chip-testing tools, stayed underwater throughout the session, ending down 0.52 percent at 7,630 yen.
Tokyo Electron, which produces tools to build microchips, gave up 0.46 percent to 47,550 yen.
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