TOKYO, March 26 (Xinhua) -- Tokyo stocks continued an upward trend on Wednesday, gaining momentum from a rally in U.S. tech stocks overnight.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 38,027.29, up 246.75 points, or 0.65 percent from the previous day.
This marks the first time the index has closed above 38,000 since Feb. 27. While some profit-taking was observed, buying from overseas investors strengthened, pushing the Nikkei 225 up by more than 400 points at one point during the afternoon session.
Heavyweight stocks such as Fast Retailing and Tokyo Electron led the gains. Improved investor sentiment among retail traders also supported the overall market.
Meanwhile, automobile and banking stocks saw lackluster performance as concerns over possible additional U.S. tariffs on imported cars weighed.
The broader Tokyo Stock Price Index (TOPIX) also rose, gaining 15.37 points, or 0.55 percent, to close at 2,812.89.
On the Tokyo Stock Exchange Prime Market, advancing stocks totaled 1,212, while 361 declined and 63 remained unchanged. ■
