TOKYO (AFP): Tokyo shares ended higher Wednesday despite losses on Wall Street, as fears of a banking crisis ebbed after weeks of turmoil.
The benchmark Nikkei 225 index advanced 1.33 percent, or 365.53 points, to end at 27,883.78, while the broader Topix index rose 1.46 percent, or 28.81 points, to 1,995.48.
The dollar fetched 131.90 yen, against 130.90 yen in New York on Tuesday.
While Wall Street shares ended lower, the Tokyo market proved resilient as “excessive fears over the European financial system dwindled”, IwaiCosmo Securities said.
The brokerage added that Tokyo stocks were also supported by a weakening yen and strong United States futures.
The market in Japan was supported by heavyweight SoftBank Group, which soared 6.17 percent to 5,190 yen after Chinese e-commerce giant Alibaba, part-owned by the Japanese firm, said it would split into six business groups.
Alibaba’s CEO said in a statement that the restructuring would enable each separate business to pursue its own fundraising and public listing plans.
Sony Group climbed 1.45 percent to 11,495 yen, Toyota jumped 2.57 percent to 1,852 yen and Uniqlo operator Fast Retailing added 1.35 percent to 28,355 yen.