1st LD Writethru: Tokyo stocks close higher tracking Wall Street's gains

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TOKYO, May 27 (Xinhua) -- Tokyo stocks closed higher Monday tracking gains made on Wall Street late last week, with investors eagerly awaiting the outcome of summit talks in Tokyo between the leaders of Japan and the United States, particularly regarding issues of trade.

The 225-issue Nikkei Stock Average added 65.36 points, or 0.31 percent, from Friday to close the day at 21,182.58.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 5.79 points, or 0.38 percent, to finish at 1,547.00.

Local brokers said that Tokyo stocks attracted buying following U.S. shares rising late last week and snapping a three-day losing streak.

They highlighted that investor sentiment had improved on hopes that protracted global trade issues may be resolved quicker than initially expected.

Some investors hit the sidelines in later trade, however, investment analysts here said, owing to markets in the U.S. and Britain being closed for public holidays on Monday.

In addition, a wait-and-see mood was also prevalent ahead of a joint press conference between Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump after summit talks held earlier in the day in Tokyo.

Investors where keen to hear predominantly about trade issues and particularly if Trump would take a hard line on Japan's trade deficit with the U.S., market analysts here said.

Trump said that positive news regarding trade for both countries would be announced soon, possibly in August, and while highlighting the trade deficit, did not take an overly hostile tone or mention numerical specifics.

Both leaders said at the joint press conference that talks on trade would be accelerated, with Trump stating that he hoped the talks would result in something concrete to announce "very, very soon."

He did, however, call for a trade deal that is on "a fair and neutral footing."

Abe, for his part, said that the two countries would expedite talks which began in April towards achieving a bilateral trade deal, to achieve a "win-win relationship."

"The remarks provided some relief to market players as the U.S. leader did not show a tough stance on a bilateral trade deal, while some investors wanted to confirm whether Mr. Trump will make strict requests to Japan at the news conference," Yutaka Miura, senior technical analyst at Mizuho Securities Co., was quoted as saying.

By the close of play, mining, electric power and gas, and oil and coal product-linked issues comprised those that gained the most, and issues that advanced outpaced those that declined by 1,293 to 734 on the First Section, while 114 ended the day unchanged.

On the main section on Monday, 901.64 million shares changed hands, dropping from Friday's volume of 1,246.71 million shares.

The turnover on the first trading day of the week came to 1,471.3 billion yen (13.43 billion U.S. dollars). Enditem

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