1 August 2005, 12:14  Tokyo shares close higher; Nikkei comes within 3 pts of 2005 high

Shares closed broadly higher for the fourth straight trading day, with the Nikkei index at one point rising to within three points of its 2005 high in reaction to data showing a rise in land prices in Tokyo, dealers said. The Nikkei 225 Stock Average closed up 47.32 points or 0.4 pct at 11,946.92, its best finish since March 9, when the blue-chip marker closed at 11,966.69, its 2005 high. During trading the Nikkei hit 11,972,84, just below its 2005 high of 11,975.46 hit on March 7. The Nikkei has now gained nearly 209 points or 1.8 pct over the past four trading days. The broader TOPIX index of all First Section issues closed up 6.63 points or 0.55 pct at 1,211.61. The broad market gauge has risen 1.9 pct over the past four trading days. Advancing issues outnumbered losers 850 to 643, with 154 issues unchanged, on heavy volume of 1.83 bln shares, up from 1.69 bln shares Friday. The average price of land in Tokyo rose in 2005 for the first time in 13 years, data released by the National Tax Agency show. But an upswing was not evident anywhere else in Japan. The average price of land throughout Japan fell 3.4 pct in 2005, the 13th consecutive year of decline, the tax agency data show.

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