Tokyo: Stocks recover early losses to close higher

[TOKYO] Tokyo stocks recovered early losses and closed higher on Wednesday as investors bought on dips following two days of declines.

The Nikkei 225 index rose 0.26 per cent, or 59.53 points, to 23,110.61, while the broader Topix index gained 0.18 per cent, or 2.88 points, to 1,613.73.

Tokyo shares opened lower despite overnight gains on Wall Street, where the S&P 500 on Tuesday notched its first closing record since February.

But investors started buying on dips, helping the Nikkei index close in positive territory following declines earlier this week, they said.

"Sentiment is not so bad as the Nikkei index is staying above the 23,000 level," said Shinichi Yamamoto, a broker at Okasan Securities in Tokyo.

AFP