Tokyo stocks end higher ahead of US inflation data

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Tokyo stocks closed higher on Wednesday, rebounding from sharp falls the previous day, with investors treading carefully ahead of a key US inflation report.

The benchmark Nikkei 225 index was up 0.54 percent, or 142.11 points, to end at 26,478.77, while the broader Topix index edged up 0.29 percent, or 5.55 points, to 1,888.85.

The dollar fetched 137.08 yen, against 136.84 in New York late Tuesday. “Bargain-hunting took hold, in part due to a rebound from significant losses the previous day,” Okasan Online Securities said. On Tuesday, the Nikkei closed down 1.8 percent. The gains in Tokyo came despite losses on Wall Street where “investor concerns grew ahead of the release of consumer price data” in US.— AFP

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