TOKYO, May 7 (Xinhua) -- Tokyo stocks closed higher on Tuesday following the overnight gains in the U.S. stock market amid expectations for ongoing weakness of the yen.
Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, went up by 599.03 points, or 1.57 percent, from Thursday to close the day at 38,835.10.
The broader Topix index, meanwhile, finished 17.69 points, or 0.65 percent, higher at 2,746.22.
Japan's financial markets were closed for national holidays on Friday and Monday.
Market watchers here noted that tech issues, especially semi-conductor-related stocks saw positive gains in the Tokyo market tracking the bullish performance of U.S. high-tech stocks.
According to local analysts, market sentiment was also boosted after speculation heightened in the U.S. financial markets that the Federal Reserve would implement around two interest rate cuts within the year, which led to a decline in long-term U.S. interest rates.
Tokyo Electron rose by over 5 percent, pushing the Nikkei average up by over 170 points.
On the Prime Market, gainers were led by securities house, machinery and service issues.
Issues that advanced outpaced those that declined by 1,116 to 487, while 48 ended the day unchanged. ■