Tokyo shares close higher

Tokyo shares closed higher on Tuesday, extending US gains on hopes over peace talks between Russia and Ukraine.

The benchmark Nikkei 225 index gained 1.10 per cent, or 308.53 points, to end at 28,252.42, while the broader Topix index rose 0.93 per cent, or 18.29 points, to 1,991.66.

"The Nikkei opened higher after the three major US indexes rose," Okasan Online Securities said.

In Tokyo, "buying of chip-linked stocks increased following gains of US tech shares," the brokerage added.

The dollar traded at 123.59 yen in Asian trade, against 123.83 yen in New York and 123.18 yen in Tokyo on Monday.

A cheaper yen prompted buying of export-related shares. Exporters generally benefit when the yen falls because it makes their products more competitive overseas and boosts the value of foreign income.

Automakers were higher with Toyota jumping 2.67 per cent to 2,261 yen, Honda gaining 2.26 per cent to 3,562 yen and Nissan climbing 1.44 per cent to
547.9 yen.

Shipping firm Nippon Yusen climbed 2.30 per cent to 11,110 yen while Mitsui OSK Lines rose 1.47 per cent to 10,340 yen.

Tokyo Electron, a major producer of tools to build semiconductors, advanced 0.44 per cent to 62,940 yen while chip-testing equipment maker Advantest was up 0.62 per cent to 9,590 yen.