31 May 2005, 12:21  Tokyo stocks rallied in afternoon trade to close higher

Tokyo stocks rallied in afternoon trade to close marginally higher, lifting the benchmark indices to their fourth straight trading day of gains, on expectations that the US stock market rally will continue when trading resumes today, brokers said. "Some investors resumed purchasing shares selectively on expectations US share prices will rise later today after the long weekend, and that lifted the Nikkei into positive territory," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management. US financial markets were closed Monday for a national holiday. The Nikkei 225 Stock Average closed up 10.26 points or 0.1 pct at 11,276.59, after being down nearly 45 points at one point. The blue-chip marker closed at a six-week high, after gaining 262 points or 2.4 pct over four trading days. The TOPIX index of all First Section issues finished up 2.57 points or 0.2 pct at 1,144.33. Despite the marginal gains in the indices, advancing issues outnumbered decliners by 1,191 to 333, with 122 ending unchanged. Volume totaled 1.45 bln shares, up from 1.32 bln yesterday. Investor sentiment was boosted by the release of some encouraging economic data, brokers said. A half-hour before trading began, the government reported that the unemployment rate fell to 4.4 pct in April from 4.5 pct in March.

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