TOKYO, May 6 (Xinhua) -- Tokyo stocks closed higher Thursday, with the benchmark Nikkei stock index ending at a two-week high as investors piled into cyclical issues following the Dow Jones Index hitting a record-high overnight, although gains were capped by the tech-heavy Nasdaq losing ground.

The 225-issue Nikkei Stock Average gained 518.74 points, or 1.80 percent, from Friday to close the day at 29,331.37, marking its highest closing level since April 19.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 29.16 points, or 1.54 percent, to finish at 1,927.40.

Local brokers said that issues that stand to gain from a global economic recovery found favor on hopes for countries' vaccine rollouts gathering momentum and the easing of virus restrictions in some major economies.

They added that issues being offloaded before Japan's Golden Week string of national holidays beginning at the end of April and running until May 5, were bought back on reasonable valuations.

"The market rebounded after sell-offs before the Golden Week holiday when investors were too cautious about the market outlook," Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, was quoted as saying.

In addition, concerns over major global market moves during the holidays eased as markets reopened Thursday, with investors relieved there had been no major turbulence.

"Investors bought back shares on a sense of relief as there were no negative cues from overseas markets during Japan's holidays," Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.

U.S. shares' solid performance overnight underpinned an upbeat market mood, although tech-related issues slipping coupled with concerns over Japan's ongoing "fourth wave" of COVID-19 infectious and fears of extended and more stringent antiviral measures being implemented, saw gains capped, traders here added.

"The strong U.S. market also supported sentiment today. But I am not sure how long this will last because the coronavirus situation in Japan is very different from that in the U.S.," Arisawa said.

After markets here closed, senior government sources were quoted by local media as saying that the state of emergency declared for Tokyo, Osaka, Kyoto and Hyogo prefectures will be extended until the end of the month from its current end date of May 11.

Due to the severity of the spread of the virus in major urban areas in Japan and concerns over the rampant transmission of variants of the novel coronavirus, the state of emergency will be expanded to cover Aichi and Fukuoka prefectures, the sources said.

As for the currency markets, the dollar was solid versus the Japanese yen in the lower 109 yen range, following U.S. Treasury Secretary Janet Yellen hinting this week at a rate hike in a bid to prevent the economy from overheating.

At 5 p.m., the dollar was quoted at 109.33-34 yen compared with 109.14-24 yen in New York on Wednesday at 5 p.m.

The euro, meanwhile, fetched 1.2024-2026 dollars and 131.46-50 yen against 1.2000-2010 dollars and 131.03-13 yen in late Wednesday afternoon trade in New York.

By the close of play, iron and steel, marine transportation, and pulp and paper issues comprised those that gained the most.

Steel makers advanced on hopes for a recovery in demand commensurate with the global economic recovery, with JFE Holdings soaring 8.0 percent and Kobe Steel jumping 6.6 percent, with both firms the Nikkei's biggest gainers Thursday.

Similarly, shipping firms rose with Kawasaki Kisen advancing 6.6 percent, while Nippon Yusen ended the day 3.6 percent higher.

Technology-oriented issues weighed on the market, however, with Advantest dropping 1.5 percent, with Tokyo Electron's marginal rise following an upbeat operating profit coming in ahead of median analysts' forecasts sparking doubts about other tech issues' earnings results and outlooks henceforth.

Issues that rose outpaced those that fell by 1,625 to 492 on the First Section, while 74 ended the day unchanged.

On the main section on Thursday, 1,526.11 million shares changed hands, rising from Friday's volume of 1,350.10 million shares.

The turnover on the penultimate trading day of the week came to 3,380.70 billion yen (30.94 U.S. dollars). Enditem

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