Nikkei closes above 24,000 level for 1st time in over 26 years

TOKYO, Jan. 23 (Xinhua) -- Tokyo stocks closed sharply higher Tuesday with the benchmark Nikkei stock index finishing above the 24,000 level for the first time in more than 26 years as investors' risk appetite returned after the U.S. government shutdown ended.

The 225-issue Nikkei Stock Average gained 307.82 points, or 1.29 percent, from Monday to close the day at 24,124.15, marking its highest closing level since Nov. 14, 1991.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 19.15 points, or 1.01 percent, to finish at 1,911.07.

Market strategists here said that investors' risk appetite returned following Wall Street's record closes overnight after the U.S. Congress passed a stopgap spending bill bringing a halt to a stalemate over the issue and a resumption of most U.S. government offices.

Gains were extended later in the day after the Bank of Japan (BOJ) opted to maintain its aggressive monetary easing policy after it spooked the market earlier in the month by unexpectedly reducing its procurement of long-term government bonds, leading some analysts to speculate the bank may begin tapering measures.

Overseas investors piled into shares of Japanese bellwether firms on the bank's news, with sentiment also bolstered by expectations for solid earnings for the April-December period by Japanese firms who will begin reporting later Tuesday.

Among large-capped issues, SoftBank Group added 2 percent to 9,458 yen and Sony gained 2.9 percent to close at 5,732 yen.

Real estate shares found favor on the promise of lower interest rates under the BOJ's continued policy and Mitsubishi Estate climbed 3.5 percent to 2,178.50 yen, while Mitsui Fudosan closed at 2,911 yen, gaining 2.7 percent.

Among issues that advanced on individual news, chemicals firm DIC Corporation rose 2.9 percent to 4,420 yen, following the Nikkei business daily saying the company likely netted record profits in 2017.

Shares of Mitsubishi Heavy Industries also found favor following the Nikkei reporting one of its subsidiaries in Thailand would increase production of parts for electric vehicles.

Mitsubishi Heavy Industries jumped 2.9 percent to finish the day at 4,379 yen.

By the close of play, real estate, precision instrument and securities-linked issues comprised notable gainers and rising issues outpaced declining ones by 1,649 to 346 on the First Section, with 68 ending the day unchanged.

On the main section on Tuesday, 1,415.12 million shares changed hands, rising from Monday's volume of 1,342.98 million shares.

The turnover on the second trading day of the week came to 2,754.8 billion yen (24.82 billion U.S. dollars). Enditem