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Tokyo stocks up 0.57% by break

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(Globalpost/GlobalPost)

Tokyo stocks rose 0.57 percent on Wednesday morning, buoyed by another day of gains on Wall Street, while the dollar held up against the yen.

The Nikkei 225 index added 81.77 points to 14,470.54 by the break, while the Topix index of all first-section issues was up 0.49 percent, or 5.74 points, at 1,168.24.

With US President Barack Obama to arrive in Japan late Wednesday, traders are watching for any mention of a territorial dispute between Japan and China, which has hurt ties between Tokyo and Beijing, traders said.

In New York on Tuesday solid earnings and major pharmaceutical sector deals lifted stocks. The S&P 500 added 0.41 percent and the Nasdaq jumped 0.97 percent, with each index clocking up a sixth successive advance after earlier this month suffering heavy selling. The Dow climbed 0.40 percent, a third straight gain.

In forex trade, the dollar changed hands at 102.58 yen, compared with 102.60 yen in New York Tuesday afternoon.

Some exporters rose, with Sony up 0.73 percent at 1,913 yen and Honda adding 0.49 percent to 3,445 yen.

Japanese railway and hotels giant Seibu Holdings returned to the Tokyo stock market -- a decade after it was delisted following a major accounting scandal -- and was fetched 1,682 yen by the break, up 5.1 percent from its initial public offering price.

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http://www.globalpost.com/dispatch/news/afp/140423/tokyo-stocks-057-break