TOKYO: Tokyo shares shrugged off earlier losses to close higher for the third straight day on Wednesday after US stocks ended mostly flat.
The benchmark Nikkei 225 index climbed 0.48 percent, or 153.55 points, to end at 32,010.26, while the broader Topix index rose 0.50 percent, or 11.34 points, to 2,277.05.
“The Nikkei index opened lower following mixed US shares but it quickly recovered and moved into positive territory immediately after the break,” Iwai Cosmo Securities said in a note.
Overnight, Wall Street stocks finished a choppy session mostly lower as worries about higher Treasury bond yields offset investor appetite to keep buying equities.
Markets are looking ahead to an address by US Federal Reserve Chair Jerome Powell on Friday for clues on future monetary policy, analysts said.
Investors are also watching US chip giant Nvidia’s earnings report due later in the day and a slew of data including Eurozone consumer confidence and US new homes sales, National Australia Bank strategist Rodrigo Catril said in a note.
The Tokyo market was supported by tourism-linked shares as Chinese group tours resumed after a ban was lifted.
ANA Holdings, which announced an increase in flights between Japan and China, gained 0.79 percent to 3,311 yen, while its rival Japan Airlines added 0.63 percent to 3,022 yen.
Isetan Mitsukoshi Holdings, which runs department stores popular among Chinese visitors, jumped 1.83 percent to 1,722.5 yen.
Uniqlo operator Fast Retailing firmed 0.78 percent to 33,250 yen, while SoftBank Group lost 0.85 percent to 6,603 yen.
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