Tokyo stocks close higher on bargain hunting, solid Chinese shares

Source: Xinhua| 2018-10-24 19:47:18|Editor: xuxin
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TOKYO, Oct. 24 (Xinhua) -- Tokyo stocks closed higher Wednesday in choppy trade as investors sought out bargains following the Nikkei's losses a day earlier, with sentiment bolstered by solid Chinese stocks.

The 225-issue Nikkei Stock Average added 80.40 points, or 0.37 percent, from Tuesday to close the day at 22,091.18.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 1.35 points, or 0.08 percent, to finish at 1,652.07.

Trade got off to a choppy start, brokers here said, as investor sentiment was initially dampened by U.S. and European shares trading lower overnight.

They added that disappointing first-half earnings by Japanese firms also weighed on the market mood, as well as geopolitical issues concerning U.S.-Saudi tensions.

In later trade, however, shares rebounded on bargain hunting with risk appetite bolstered by a rise in Shanghai stocks.

By the close of play, warehousing and harbor transportation service, farm and fishery, and construction-oriented issues comprised those that gained the most, and rising issues beat declining ones by 1,283 to 729 on the First Section, while 96 ended the day unchanged.

On the main section on Wednesday, 1,417.53 million shares changed hands rising from Tuesday's volume of 1,405.28 million shares.

The turnover on the third trading day of the week came to 2,727.3 billion yen (24.21 billion U.S. dollars).

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