TOKYO: Tokyo stocks rose 0.74 percent to close at yet another nearly five-year high on Wednesday as investor sentiment was buoyed by US shares powering to new records and by robust Chinese trade data.
The benchmark Nikkei 225 index gained 105.45 points to 14,285.69, its best finish since June 2008.
The broader Topix index of all first-section shares ended up 0.49 percent, or 5.77 points, at 1,194.34.
The major indices were bullish from the start following record-high marks posted by both the Dow Jones Industrial Average and the S&P 500 in New York on Tuesday as well as strong German industrial data.
The mid-morning release of China trade data which revealed a surprising April surplus from a hefty March deficit showed that demand for Chinese goods abroad is recovering, further stoking sentiment.
"The market momentum continues to be fuelled by foreign investor funds, but the influx of new investor money through new individual Japanese investor accounts is exerting more influence," said Tatsunori Kawai, chief strategist at kabu.com Securities.
"This can mean more interest in cheaper... and smaller cap stocks, and will help to extend broader market rallies," he told Dow Jones Newswires.
Toyota closed up 1.38 percent at 5,840 yen on expectations of a robust earnings recovery for the fiscal year ended in March.
Just after the closing bell, Toyota announced its full-year net profit more than tripled to $9.7 billion, with the world's largest automaker also saying it was on track for another soaring profit in the current fiscal year.
Toshiba fell 5.00 percent to 512 yen before it reported its operating profit fell short of its forecast for the last fiscal year.
Sharp jumped 6.34 percent to 369 yen after the Nikkei said the struggling electronics giant had secured access to 150 billion yen ($1.5 billion) in fresh bank loans.
The Chinese trade data helped factory automation company Fanuc rise 3.60 percent to 15,790 yen and machinery maker Komatsu soar 4.40 percent to 2,728 yen.
Heavyweight SoftBank also gained 2.90 percent to 4,960 yen after a report that Sprint Nextel has yet to allow Dish Network to review confidential financial data due to questions about Dish's $25.5 billion bid for Sprint.
Softbank has offered $20 billion to buy 70 percent of Sprint Nextel against the unsolicited $25.5 billion bid from the American satellite-television provider.
In forex trading, the dollar was at 98.80 yen late Wednesday against 98.96 yen in New York Tuesday afternoon, while the euro also rose at 129.51 yen from 129.41 yen in US trade. (AFP)
