Tokyo stocks close higher

• The Nikkei 225 index rose 0.65 percent, or 178.09 points, to 27,457.89.
• The dollar fetched 129.25 yen, against 128.72 yen in New York late Tuesday.
• Consumer-sector shares rose on expectations for the normalization of economic activity.

Tokyo stocks closed higher on Wednesday, with investors buying exporter shareholdings as the yen fell.

The Nikkei 225 index rose 0.65 percent, or 178.09 points, to 27,457.89, while the Topix index gained 1.36 %, or 25.97 points, to 1,938.64.

The dollar fetched 129.25 yen, against 128.72 yen in New York late Tuesday.

Read More: Tokyo stocks close lower on rising US yields

Despite declines in some major semiconductor shares, Tokyo stocks were broadly dominated by buying, in part “bolstered by the strong dollar and weak yen in the foreign exchange market,” Okasan Online Securities said in a note.

Investors also gravitated toward buying the consumer-sector stocks on expectations for the normalization of economic activity as Covid fears ease, the brokerage said.

Toyota was up 3.53 percent at 2,197.5 yen, Sony Group was up 2.10 percent at 12,370 yen, Panasonic was up 0.76 percent at 1,193 yen, and Uniqlo operator Fast Retailing was down 0.54 percent at 61,610 yen in Tokyo.

ANA Holdings rose 0.90 percent to 2,565 yen, while Japan Airlines rose 1.32 percent to 2,377 yen after the Japanese government increased the number of people allowed to enter the country to 20,000 on Wednesday as part of its gradual relaxation of Covid-19 border controls.

Read More: Tokyo stocks close lower after US falls

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