Tokyo stocks close higher with eyes on earnings

Tokyo stocks closed higher on Thursday helped by rallies on Wall Street and other Asian markets, as investors eyed corporate earnings in Japan. The benchmark Nikkei 225 index ended up 0.93 percent or 273.47 points at 29,794.37, while the broader Topix index finished up 1.18 percent or 23.89 points at 2,055.56.

“Rallies in bourses in China and the rest of Asia supported the Japanese market” after US rallies following the Federal Reserve’s policy decision, Okasan Online Securities said. Investors were closely watching earnings reports being released this week, analysts said.

The dollar fetched 114.14 yen in Asian trade, against 114.02 yen in New York late Wednesday. Toyota closed 0.73 percent higher at 2,063 yen after it upgraded its full-year profit forecast on the back of a strong quarter that saw it weather production cuts caused by a chip crunch and supply chain issues.