Tokyo shares rose across the board Thursday on the Tokyo Stock Exchange, buoyed by bargain-hunting and the dollar's strength against the, yen sending the Topix index to its first close above 1,500 in more than five years.
The Tokyo Stock Price Index of all first-section issues ended up at 1,510.33, gaining 23.99 points, or 1.61 percent, for its highest finish since Oct. 4, 2000.
Renewing its 4 1/2-year high for the second straight day, the 225-issue Nikkei stock average added 240.92 points, or 1.70 percent, to end at 14,411.79, its highest closing since May 7, 2001.
Tokyo shares climbed most of the day after the Nikkei fell briefly into negative territory early in the morning.
Domestic demand-related issues proved popular following their recent modest falls, while export-oriented high-tech and automobile issues were bought due to the dollar's recent rise, brokers said.
Toyota Motor, Honda Motor, Sony and NEC all advanced after the dollar entered the mid-119 yen range to hit its highest level in 27 months against the yen overnight in New York.
"With both domestic and overseas demand-related shares gaining ground, it appears that the market's two wheels have started moving," said Hiroichi Nishi, equities chief at Nikko Cordial Securities Inc.
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