Tokyo stocks rose Tuesday morning on overnight gains in the technology-heavy U.S. Nasdaq index, while hopes for additional stimulus measures in Japan continued to support sentiment as campaigning began for the Oct. 31 general election.
The 225-issue Nikkei Stock Average gained 187.58 points, or 0.65 percent, from Monday to 29,213.04. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 4.82 points, or 0.24 percent, at 2,024.05.
Gainers were led by precision instrument, marine transportation, and information and communication issues.
The U.S. dollar hovered in the lower 114 yen range, fetching 114.17-18 yen at noon, compared with 114.26-36 yen in New York and 114.29-30 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.1642-1642 and 132.92-93 yen against $1.1605-1615 and 132.68-78 yen in New York and $1.1592-1593 and 132.49-53 yen in Tokyo late Monday afternoon.
Shares gained from the opening, with the benchmark Nikkei index briefly rising over 200 points on gains in heavyweight technology issues, brokers said.
Among chip-related issues, Tokyo Electron advanced 1,290 yen, or 2.6 percent, to 51,300 yen and Advantest climbed 200 yen, or 2.2 percent, to 9,320 yen. Silicon wafer manufacturer Shin-Etsu Chemical rose 90 yen, or 0.5 percent, to 19,725 yen.
Sentiment was also supported by expectations for economic measures ahead of Japan's lower house election later this month.
General elections typically draw buying, and expectations for such gains in the run-up to the Oct. 31 ballot "underpinned the market," said Toshikazu Horiuchi, an equity strategist at IwaiCosmo Securities Co.
On the First Section, declining issues outnumbered advancers 1,114 to 951, while 115 ended the morning unchanged.
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