TOKYO, July 15 (Xinhua) -- Tokyo stocks closed higher Wednesday, after inheriting an upbeat lead from Wall Street overnight, with reports of an experimental COVID-19 vaccine in the United States showing positive results in a clinical study adding to a positive mood.
The 225-issue Nikkei Stock Average gained 358.49 points, or 1.59 percent, from Tuesday to close the day at 22,945.50, marking its highest close since June 10.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 24.36 points, or 1.56 percent, to finish at 1,589.51.
Shares rose throughout the day, local brokers said, after U.S. biotechnology firm Moderna Inc. said Tuesday its experimental COVID-19 vaccine showed all participants in a clinical trial developed COVID-19 antibodies, with none suffering serious side effects.
In the final clinical phase, the potential vaccine will reportedly be given to 30,000 people in the United States.
"The news reduced underlying market fears caused by recent uptrends in infections in Japan and other countries," Makoto Sengoku, a market analyst at the Tokai Tokyo Research Institute, was quoted as saying.
Other market analysts said that from a broader perspective, hopes for economic growth remain firm amid data showing that consumer spending and business sentiment are improving.
The Bank of Japan here, while keeping monetary policy steady on Wednesday, also said the economy would gradually emerge from the pandemic.
"Japanese value shares are starting to catch up with the recent rally in global equities," Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management, said.
"In the bigger picture, expectations for economic growth remain solid. We now have better methods to track the coronavirus and are further along in developing drugs to treat it," Ishigane was also quoted as saying.
By the close of play, all industry categories advanced into positive territory, with mining, steel and iron, and machinery issues comprising those that gained the most.
Energy and machinery-linked issues got a boost from expectations production will rise on increasing domestic and global demand, and Idemitsu Kosan gained 1.8 percent, while JGC climbed 5.4 percent. Exploration giant Inpex, meanwhile, closed the day 3.9 percent higher.
Among machinery-related stocks, Sumitomo Heavy Industries gained 3.1 percent, IHI advanced 3.9 percent, while Kawasaki Heavy Industries ended 3.1 percent higher.
Issues that rose outpaced those that fell by 1,860 to 260 on the First Section, while 51 ended the day unchanged.
On the main section on Wednesday, 1.245 billion shares changed hands, rising from Tuesday's volume of 1.096 billion shares.
The turnover on the third trading day of the week came to 2.209 trillion yen (20.666 billion U.S. dollars). Enditem
