TOKYO: Tokyo shares closed higher on Tuesday for the eighth straight day, helped by a weaker yen after US stocks finished with modest gains.
The benchmark Nikkei 225 index rose 0.51 percent, or 144.05 points, to end at 28,658.83, while the broader Topix index added 0.69 percent, or 13.92 points, to 2,040.89.
“Although there was some profit-taking on the back of short-term overheating fears, the market was supported by the weak yen and other factors, and the buying momentum gradually increased,” Iwai Cosmo Securities said.
The dollar fetched 134.50 yen in Asian trade, against 134.46 yen in New York, where the prospect of further US central bank rate hikes helped the greenback firm from levels of 133.94 yen in Tokyo on Tuesday.
A weaker yen inflates profits for Japanese companies selling products and services overseas.
Uniqlo operator Fast Retailing climbed 0.53 percent to 32,120 yen while SoftBank Group was up 0.25 percent to 5,186 yen.
Tokyo stocks recover from losses to end higher
Nissan gained 1.00 percent to 503 yen while Honda firmed 0.85 percent to 3,548 yen.
Sega Sammy Holdings, the parent company of Japanese gaming giant Sega, tanked 2.78 percent to 2,481 yen after Sega offered to buy Finland’s Rovio, the creator of the popular Angry Birds franchise, in a deal worth more than $770 million.
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