Tokyo stocks closed higher on Wednesday, shrugging off North Korea's latest launch of an intercontinental ballistic missile that splashed down in Japan's exclusive economic zone. The benchmark Nikkei 225 index gained 0.49 percent, or 110.96 points, to close at 22,597.20. The broader Topix index ended up 0.79 percent, or 14.08 points, at 1,786.15.
"The market is reacting in a cool-headed manner to the latest missile launch by North Korea," said Yoshihiro Ito, chief strategist at Okasan Online Securities. "The limited impact of North Korea's missile launch on the yen's exchange rate" also supported the market, said SBI Securities in a commentary. The dollar fetched 111.54 yen in Asian trade, up slightly from 111.40 in New York late Tuesday.
Leading musical instruments maker Yamaha jumped 5.16 percent to 4,075 yen after it revised up its annual profit forecast. Financials were also among gainers, reflecting rallies among US rivals on Wall Street, with mega bank Mitsubishi UFJ closing 2.76 percent higher at 784.5 yen. Electronics giant Panasonic ended up 1.19 percent at 1,690 yen.
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