4 November 2005, 10:29  Tokyo shares close up, main index at 4-yr high on weak yen, upbeat results

Share prices closed higher, with the benchmark index hitting a fresh four year closing high, as investor sentiment was buoyed by the weaker yen, some upbeat corporate results and ongoing optimism about the country's economic recovery, dealers said. The Nikkei 225 Stock Average closed up 181.18 points or 1.3 pct at 14,075.96. It was the highest closing level since May 22, 2001, when it settled at 14,091.19. The broader TOPIX index of all First Section shares rose 20.74 points or 1.4 pct to 1,494.99. For the week, the Nikkei gained 3.45 pct while the TOPIX advanced 3.5 pct. Gainers beat decliners 1,021 to 562, with 82 issues unchanged. Volume was 3.64 bln shares, barely changed from Wednesday's 3.65 bln. Yesterday, Japanese financial markets were closed for a public holiday. At the close of equities trading the dollar was being quoted at 117.76, yen, a more than two year high. Ryuta Otsuka, a strategist at Toyo Securities noted that along with the upbeat view of the economy and the fillip a weaker yen gives exporters, investors also took heart from some robust results. "Corporate results have turned out to be stronger than expected, with many companies lifting their full-year earnings forecasts," he said

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