7:00 PM Tokyo – Stocks in Tokyo traded higher as investors focused on the positives in the market and looked at the central banks of Europe and Japan for more actions. Resources linked stocks traded higher after commodities gained.
Tokyo stocks closed higher as investors returned to take more positions and speculated that the European Central Bank may lower its reference rate at the meeting tomorrow.
On the domestic front, investors looked at the Bank of Japan for more steps to support the economy.
The Nikkei 225 Stock Average increased 37.58 to 9,104.17 and the broader Topix index rose 1.59 to 778.70.
The yen traded near 79.80 against one dollar and hovered near 100 yen level against the euro on the hope of additional stimulus from the central bank of Japan and from the ECB.
Trading companies closed higher after commodities prices increased. Mitsubishi Corp gained 3% and Mitsui & Co Ltd added 2.3%.
All Nippon Airways Co. rose 2 yen to 195 yen after the airline said it plans to raise as much as 211 billion yen or $2.5 billion in a share offering.
Yamada Denki extended losses for the third day by 5.7% to 3,625 yen after two brokers lowered their views and price target on the retailer.
Nitori Holdings Co increased 0.9% to 7,590 yen, apparel retailer Shimamura rose 0.4% to 9,290 yen and Sagami Co fell 0.8% at 121 yen. Marushohotta Co unchanged and Edion Corp slipped 3% to 388 yen.
Fast Retailing Co. gained 130 yen to 15,850 yen and according to a Reuters report that did not cite anyone and said that the company may double its stake in boutique retailer Parco Co Ltd.
J. Front Retailing Co. Ltd fell 2 yen to 399 yen.
Kajima Corp edged down 0.4% to 231 yen and Taisei Corp fell 0.9% to 217 yen. Sekisui House Ltd decreased 1% to 754 yen and Daito Trust Construction Co Ltd slid 1% to 7,610 yen.
Tokyo Tatemono Co., Ltd decreased 4 yen to 294 yen and Mitsui Fudosan slumped 11 yen to 1,533 yen and Sumitomo Realty & Development Co. down 6 yen to 1,929 yen.
Kansai Electric Power Company, Inc slumped 19 yen to 925 yen and Tokyo Electric Power slid 2 yen to 154 yen.
Toyota Motor fell 5 yen to 3,215 yen and Honda Motor Co. gained 10 yen to 2,742 yen and Nissan Motor Co Ltd increased 7 yen to 757 yen.
Sony Corp dropped 28 yen to close at 1,096 yen and Panasonic Corp closed up 1 yen to 637 yen. Toshiba fell 1 yen to 300 yen.
Olympus Corp slid 2 yen to 1,288 yen, Nikon advanced 46 yen to 2,504 yen and Fanuc Ltd increased 210 yen to 13,290 yen. Canon Inc closed up 10 yen to 3,205 yen.
Komatsu Ltd gained 38 yen to 1,902 yen and Hitachi Construction Machinery Co slipped 13 yen to 1,447 yen.
Inpex Corp gained 2.9% to 462,000 yen and Japan Petroleum Exploration Co. increased 90 yen to 3,140 yen.
Mitsui O.S.K. Lines, Ltd fell 1 yen to 279 yen; Kawasaki Kisen Kaisha, Ltd slid 3 yen or 2.2% to 131 yen and Nippon Yusen K.K. fell 2 yen to 209 yen.
Mitsubishi UFJ Financial Group unchanged to 392 yen and Sumitomo Mitsui Financial Group slipped 16 yen to 2,644 yen. Nomura Holdings, Inc fell 3 yen to 295 yen.
Credit Saison Co Ltd closed up 3 yen to 1,760 yen.