Tokyo stocks continued to rise for the third-straight day Wednesday due to a weaker yen against U.S. dollar and rebounding Shanghai equities.
The 225-issue Nikkei Stock Average gained 164.82 points, or 1.18 percent, to 14,118.55, marking the highest close since Jan. 10. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 12.99 points, or 0.96 percent, to 1,373.04.
Among all the TSE first section issues, 1,339 increased and 323 decreased. The trading volume reached 2,212.95 million stocks or 2,806.6 billion yen. The Japanese currency is being traded in the level of 104 yen per a U.S. dollar.
Real estate, steel and export-oriented issues led gains while financial and securities issues declined.
The steady gain in Shanghai market relieved investors worries over the earthquake in China. The Shanghai stock market increased about 2 percent higher when the Tokyo market closed. The Shanghai market plunged on the previous day by concerns for the terrible earthquake.
Mitsunari Akino, trading manager of Ichiyoshi investment management Co.,LTD., said, There is not so many traders today, and there is no main reason in the national market to sell issues, and corporate earnings results reports were almost finished. These factors led the nation's stocks higher, according to Kabushiki shimbun.