Tokyo stocks close high

Tokyo, Nov 24 (IANS) Tokyo stocks reversed earlier losses to close higher on Tuesday, as investor sentiment was buoyed in later trade on hopes that the US Federal Reserve’s rate hike will positively benefit Japanese companies.

The 225-issue Nikkei Stock Average added 45.08 points or 0.23 percent, from last Friday to end the day at 19,924.89, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 2.76 points or 0.17 percent higher to finish at 1,605.94, Xinhua reported.

Markets here were closed on Monday for a national holiday.

Local brokers also said that along with the highly-anticipated US rate hike, government plans here to unveil more stimulus measures by the end of this month, following the economy slipping into recession in the previous quarter, also helped brighten the market mood in later trade.

Notable gainers by the closing bell comprised metal products, construction and pharmaceutical-linked issues.

The day’s turnover was 2,280.9 billion yen ($18.58 billion).

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