TOKYO: Tokyo stocks rose 0.69 percent Tuesday after the Bank of Japan held off launching fresh monetary easing measures.
The Nikkei-225 index gained 103.97 points to 15,224.11, while the Topix index of all first-section shares added 0.46 percent, or 5.60 points, to 1,233.21.
Traders picked up bargains after the index suffered a sell-off Monday in response to a downward revision of 2013 economic growth as well as disappointing Chinese trade data.
On Tuesday the central bank decided not to add to its vast asset-purchasing scheme but analysts expect it to move later in the year after policymakers have assessed the impact of a sales tax hike due next month.
There is growing concern that the tax increase will derail Japan's economic recovery by weighing on consumer spending.
"The BoJ decision little affected the market as there was no surprise from its statement," said Katsuhiro Kondo, a broker with Tokai Tokyo Securities.
"But trading sentiment remains strong as investors here are still interested in buying stocks on dips," said Kondo.
Wall Street ended lower Monday, following a global sell-off. The Dow fell 0.21 percent, the S&P 500 dipped 0.05 percent and the Nasdaq gave up 0.04 percent.
On currency markets the dollar was quoted at 103.28 yen, slightly up from 103.26 yen in New York Monday, while the euro fetched $1.3867 and 143.25, against $1.3875 and 143.28 yen.
In Tokyo trade, Honda Motor was 2.89 percent higher at 3,840 yen, while rival Toyota gained 0.36 percent to 5,842 yen.
Panasonic fell 1.07 percent to 1,287 yen but Tokyo Electron was up 1.00 percent at 6,212 yen. (AFP)
