Tokyo shares closed higher on Tuesday, with investors snapping up bargains after recent losses. The Nikkei 225 index rose 1.25 percent or 277.94 points to end at 22,549.24, while the broader Topix index was higher by 0.74 percent or 12.47 points at 1,687.91.
While Wall Street issues slipped overnight, the slowing speed of the fall and relative calm on the forex market comforted investors, Okasan Online Securities said in a note. Market participants were also eager to buy shares after sharp declines in recent days, it added.
"The market is in rebound mode. With the forex market staying calm, selective buying came in to pick up bargains," Okasan said. The dollar stood at 112.07 yen, up from 111.79 yen in New York on Monday afternoon. Among major shares, SoftBank jumped 3.62 percent to 9,586 yen after losing more than seven percent on Monday over its link to Saudi Arabia, which has come under international scrutiny after a journalist disappeared from the kingdom's consulate in Istanbul.
Meanwhile, Toyota rose 1.11 percent to 6,522 yen and Sony was also higher by 2.21 percent to 6,356 yen.
Japan's major oil refiners Idemitsu Kosan and Showa Shell Sekiyu dropped 3.20 percent to 5,740 yen and 2.58 percent to 2,378 yen respectively, after revealing the financial details of the merger between the two companies. Idemitsu's founding family had long opposed the merger plan, but the deal finally materialised in July.
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