Tokyo stocks close higher on Wall Street's advance, weaker yen

Source: Xinhua| 2017-09-13 16:01:21|Editor: Zhou Xin
Video PlayerClose

TOKYO, Sept. 13 (Xinhua) -- Tokyo stocks closed higher Wednesday, with the benchmark Nikkei stock index finishing at a one-month high, as a solid lead from Wall Street overnight coupled with the yen's retreat against the U.S. dollar made for a positive market mood.

The 225-issue Nikkei Stock Average added 89.20 points, or 0.45 percent, from Tuesday to close the day at 19,865.82, marking its highest close since Aug. 8.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 9.88 points, or 0.61 percent, to finish at 1,637.33.

Securities house, real estate and bank-linked issues comprised those that gained the most by the close of play, and rising issues beat falling ones by 1,314 to 594 on the First Section.

Local traders said that investor sentiment was bolstered from the get go by a predominantly global risk on mood, with Wall Street's overnight gains in particular setting a solid tone early on.

A comparatively weak yen against the U.S. dollar also contributed to investors' risk appetite, brokers said, with exporters gaining ground on increased profitability and competitiveness in overseas markets.

The market also reacted positively to remarks made by U.S. Treasury Secretary Steven Mnuchin suggesting that backdating tax reforms to bolster the U.S. economy might be a feasible proposition, strategists here also noted.

On the main section on Wednesday, 1,605.11 million shares changed hands, dropping from Tuesday's volume of 1,654.76 million shares.

The turnover on the third trading day of the week totaled 2,049.8 billion yen (18.61 billion U.S. dollars).