8 June 2005, 12:23  Stocks closed widely higher in Tokyo

Stocks closed widely higher, as the broad market advanced for the first time in three days, led by gains among makers of microchips, high-tech equipment and autos. "Investors took comfort from Texas Instruments, which upgraded its June quarter profit forecast," said Hideo Mizutani, chief strategist at Sieg Securities. "Easing crude oil prices also provide lift." Other market commentators cited other factors for the market advance. "Some investors believed the [Japanese] GDP data due out next Monday could be revised upward, and stepped into the market [to purchase shares]," said Toshihiko Matsuno, senior strategist at SMBC Friend Securities. But Matsuno said many investors remained hesitant to trade ahead of testimony to the US Congress by US Federal Reserve chairman Alan Greenspan, and Intel Corp's second-quarter revised earnings forecast, both tomorrow. The Nikkei 225 Stock Average closed up 63.58 points or 0.6 pct at 11,281.03, after being up 105 points at one time. The broader TOPIX index of all First Section issues finished up 7.28 points or 0.6 pct at 1,148.54.Advancing issues outnumbered decliners 964 to 523, with 160 unchanged, on volume of 1.26 bln shares, up from 1.18 bln yesterday.

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