TOKYO, July 13 (Xinhua) -- Tokyo stocks closed higher Wednesday as investors sought out bargains, with chip-oriented issues' advance helping propel the market higher.
The 225-issue Nikkei Stock Average added 142.11 points, or 0.54 percent, from Tuesday to close the day at 26,478.77.
The broader Topix index, meanwhile, gained 5.55 points, or 0.29 percent, to finish at 1,888.85.
Dealers here said that while the market bounced back Wednesday with battered down shares providing an easy impetus to buy, all eyes would remain on the outcome of U.S. inflation data due out later Wednesday, which will likely influence the direction of the U.S. Federal Reserve's aggressive monetary policy.
"Investors want to see if the CPI will actually be higher than market expectations. A higher showing will spur buying of the dollar against the yen on hopes of a wider interest rate gap between Japan and the United States," Yuji Saito, head of the foreign exchange department at Credit Agricole Corporate & Investment Bank in Tokyo, was quoted as saying.
By the close of play, air transportation, pulp and paper, and electric power and gas issues comprised those that gained the most, and issues that rose outpaced those that fell by 1,217 to 535 on the Prime Market, while 86 ended the day unchanged.
Air transportation issue gained as crude oil prices dropped, with ANA Holdings rising 1.1 percent, while Japan Airlines advanced 1.4 percent.
Among technology shares finding favor, Nikkei heavyweights helped bolster the broader market, with SoftBank Group climbing 2.4 percent, following reports that the technology investment behemoth is in talks with Abu Dhabi's sovereign wealth fund for the sale of Fortress Investment Group.
Heavily weighted Tokyo Electron, meanwhile added 1.4 percent, while Fast Retailing, operator of the Uniqlo chain of casual clothing stores, was another big winner, adding 1 percent by the close.
But a rise in coronavirus cases in Japan sparked concerns the government's moves to open up the country may have to be rolled back, as Japan saw cases rise by 76,000 on Tuesday, topping 70,000 for the first time since March 3.
The increase in cases prompted selling of some tourism-related shares such as H.I.S., which retreated 1.6 percent.
On the Prime Market on Wednesday, 893.56 million shares changed hands, dropping from Tuesday's volume of 1,061.10 million shares.
The turnover on the third trading day of the week came to 2,066.55 billion yen (15.06 billion U.S. dollars). ■
