Tokyo stocks rise on Wall Street gains, weak yen

Tokyo, Oct 15 (IANS) Tokyo stocks rose on Tuesday, with the key stock index rising for the fourth straight day on overnight Wall Street gains and a weak yen.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, gained 0.77 per cent, or 304.75 points, to close at 39,910.55.

During intraday trading, the Nikkei briefly exceeded the 40,000 mark for the first time in nearly three months, a level last seen on July 19.

The rise was supported by gains in US stocks during Japan’s holiday and a weaker yen against the US dollar, which bolstered risk appetite among overseas investors, Xinhua news agency reported.

Despite the brief push past 40,000, some investors opted to sell and lock in profits, capping the upside.

The broader Tokyo Stock Price Index (TOPIX) also rebounded, closing 17.37 points, or 0.64 per cent higher, at 2,723.57.

Of the listed stocks on the top-tier Prime Market, 1,203 gained, 386 retreated, and 56 remained unchanged.

–IANS

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