TOKYO (AFP/APP): Tokyo stocks closed higher on Tuesday as the yen slipped against the dollar after the Bank of Japan maintained its super-loose monetary policy.
The benchmark Nikkei 225 index rose 1.41 percent, or 460.41 points, to 33,219.39, while the broader Topix index added 0.73 percent, or 16.95 points, to end at 2,333.81.
The Japanese market started with losses in cautious trade ahead of the BoJ policy decision, as speculation had been swirling for weeks that officials would shift away from negative interest rates and a tight grip on bond yields as inflation picks up.
The Nikkei strengthened in afternoon trade after the central bank announced it was sticking to its easy monetary policy during the midday trading break, Daiwa Securities said.
The yen slipped against the dollar after the announcement, the brokerage added.
The dollar fetched 143.46 yen in late Tokyo hours, up from 142.36 yen in early trade.
Looking ahead, traders were paying attention to Bank Governor Kazuo Ueda’s press conference after the closing bell, analysts said.
Among major shares in Tokyo, Uniqlo operator Fast Retailing climbed 2.19 percent to 35,930 yen, chip-testing equipment maker Advantest soared 4.10 percent to 4,955 yen, and Honda advanced 1.47 percent to 1,445.5 yen.
Nippon Steel ended down 2.81 percent at 3,148 yen, after its announcement that it would buy US Steel Corp for $14.1 billion, sparking criticism about the firm’s ownership in an industry crucial to US national security.
