TOKYO, July 13 (Xinhua) -- Tokyo stocks closed higher on Tuesday due to a release of fears over a sluggish global economic recovery after the U.S. stock market hit record highs in succession.
The 225-issue Nikkei Stock Average finished 149.22 points, or 0.52 percent, higher at 28,718.24 on Monday.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange increased 14.31 points, or 0.73 percent, from 1,967.64.
Trading volume on the main section fell to 957.52 million shares from Monday's 1,035.77 million shares.
After an over 2 percent increase on Monday, Tokyo stocks continued rising in response to the consecutive record highs of the U.S. market on Friday and Monday, but the advance some fell back in the afternoon with investors realizing their recent gains, brokers said.
Maki Sawada, a strategist in Nomura Securities Co.'s investment content department, said that the issues such as finance-related firms that are sensitive to business cycles were lifted by positive sentiment on Wall Street, but the upward trend slowed as the Nikkei approached the psychological threshold of the 28,500 points.
She added that investors awaited for the U.S. Consumer Price Index results for June to estimate possible monetary policy changes by the U.S. Federal Reserve, as concerns about inflation still exist.
Mining, consumer credit, and insurance sectors headed the advance. By the close of play, gainers outnumbered decliners 1,642 to 468 on the First Section, while 82 ended unchanged.
Tama Home jumped 17.6 percent following the construction company reported a 40.3 percent year-on-year increase in its net profit for the business year through May on Monday.
Bucking the upward trend, air and land transportation issues performed poorly since the recent rising COVID-19 infections in Japan and the concerns over highly contagious variants would possibly drag down the demand, brokers said.
Among the issues in air and land transportation sectors, ANA Holdings fell 0.7 percent, Central Japan Railway decreased 1.0 percent, and railway operator Tokyu ended 0.3 percent lower. Enditem
