TOKYO, Nov. 17 (Xinhua) -- Tokyo stocks closed higher Tuesday, with benchmark Nikkei reaching the 26,000-mark for the first time in more than 29 years, as investors' confidence was boosted by the development of U.S. drugmaker Moderna Inc.'s COVID-19 vaccine.
The 225-issue Nikkei Stock Average gained 107.69 points, or 0.42 percent, from Monday at 26,014.62, logging the highest close since May 14, 1991.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, increased 2.85 points, or 0.16 percent, higher at 1,734.66.
Air transportation, mining and insurance issues comprised those that increased the most by the close of play.
Some investors locked in profits following recent surges, causing the Nikkei to temporarily fell into negative territory in the morning, according to brokers.
The market players' confidence was soon boosted by the latest development of COVID-19 vaccines. The Nikkei found its footing as market participants shifted their attention to the overnight announcement by pharmaceutical company Moderna that its experimental vaccine has proved highly effective, a similar result announced this month by U.S. pharmaceutical manufacturer Pfizer Inc.
The Nikkei has been up over 13 percent this month due to solid earnings from major Japanese companies, COVID-19 vaccine development progress and prospects for economic stimulus in the United States.
However, some brokers warned there might be a correction following the index's recent swift increases.
Japan Airlines increased 3.7 percent while its rival ANA Holdings gained 4.2 percent.
East Japan Railway was up 4.1 percent along with Central Japan Railway surging 4.4 percent.
Against the positive trend, video game maker Capcom decreased 2.9 percent after the company said Monday that the personal information of up to 350,000 customers and clients was stolen in a cyber-attack.
In addition, consumer electronics maker Twinbird plunged 21.0 percent.
On the First Section, decreasing issues outnumbered advancing ones 1,347 to 753, while 76 finished the trading day unchanged.
Trading volume on the main section decreased to 1,373.44 million shares compared with Monday's 1,407.49 million shares. Enditem
