TOKYO: Tokyo stocks closed higher on Tuesday after a series of public holidays in Japan, as investors took heart from Wall Street rallies overnight.
The benchmark Nikkei 225 index gained 1.57 percent, or 599.03 points, to end at 38,835.10, while the broader Topix index added 0.65 percent, or 17.69 points, to 2,746.22. Overnight, US stocks extended a rally on hopes for possible Federal Reserve interest rate cuts soon after a weaker US jobs report.
“The Tokyo market continued the trend in the US market, where lower US yields prompted high-tech stock buying,” Iwai Cosmo Securities said.
Japanese markets were closed from Friday through Monday for a set of public holidays known as “Golden Week”.
The dollar fetched 154.48 yen against 153.86 yen in New York on Monday and 155.78 yen in Tokyo on Thursday.
Among major shares, electronics maker Omron surged 4.39 percent to 5,680 yen and materials supplier Shin-Etsu Polymer jumped 3.50 percent to 1,596 yen after a group of Japanese firms including the two announced they will partner with Intel to develop technology to automate “back-end” chipmaking processes.
Chip-making equipment manufacturer Tokyo Electron soared 5.23 percent to 36,840 yen, while market heavyweight SoftBank Group gained 3.66 percent to 8,078 yen.
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