Tokyo Share Rise On Dow Rally, Relief On Earnings

YURI KAGEYAMA

TOKYO (AP) — Tokyo stocks rose Tuesday on optimism driven by a rally on Wall Street and a sense of relief about recent Japanese company earnings.

The benchmark Nikkei 225 stock average added 61.74 points, or 0.6 percent, to close at 9,870.73. The broader Topix index edged up 1.77 points, or 0.2 percent, to 872.44.

Among advancing stocks were financials, such as Mitsubishi UFJ Financial Group, which climbed 2.7 percent and Mizuho Financial Group, up 1.1 percent.

Tokyo's market perked up after a jump in the Dow Jones index, which shot up 2 percent Monday to its best finish since Oct. 3, 2008. News that the Group of 20 countries will keep economic stimulus measures in place also helped investors sentiments.

"The earnings reports were better than expected, and that is sending a sense of relief on the Tokyo market," said Shinichiro Matsushita, analyst with Daiwa Securities Co. in Tokyo, while warning that Wall Street gains may not last.

Recent earnings reports from major Japanese companies, including Toyota Motor Corp. and Honda Motor Co., also helped.