Tokyo shares up on automaker, bank rally

Tokyo stocks rose Tuesday, with automakers and banks leading the way while a dip in the yen supported exporters. Investors were encouraged by Greece's decision on Monday to discuss new bailout reforms in a bid to break a deadlock with its EU-IMF creditors. US markets were closed for a holiday on Monday. Investors are awaiting details on US President Donald Trump's tax plans, and his formal address to a joint session of Congress, slated for February 28, Okasan Securities said in a commentary.
"The Japanese market, which tends to take cues from news overseas, is likely to continue searching for a sense of direction," Okasan said.
"But confidence is growing over Japanese firms' annual earnings results."
The benchmark Nikkei 225 index gained 0.68 percent, or 130.36 points, to 19,381.44, while the Topix index of all first-section issues rose 0.56 percent, or 8.59 points, to 1,555.60.
The dollar rose to 113.60 yen from 113.04 yen on Monday.
A weaker yen generally makes Japanese exports more competitive overseas and lifts the Tokyo market.
Toyota rose 0.71 percent to 6,478 yen, while banking giant Mitsubishi UFJ Financial Group was up 0.80 percent at 774 yen.
Toshiba fell 1.39 percent to 183.7 yen, despite reports it is looking to raise at least 1.0 trillion yen ($8.8 billion) from the sale of its prized memory chip business.
Sony cast off early losses to end 0.37 percent higher at 3,521 yen.
Beverage giant Asahi Group fell 0.26 percent to 4,099 yen.