Roundup: Japan's Nikkei ends higher on new BOJ chief's dovish policy remarks

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TOKYO, April 11 (Xinhua) -- Japan's benchmark Nikkei stock index closed higher Tuesday as investor sentiment was lifted by the new Bank of Japan chief's dovish policy remarks, with high-technology shares following their U.S. peers higher.

The 225-issue Nikkei Stock Average gained 289.71 points, or 1.05 percent, from Monday to close at 27,923.37.

The broader Topix index added 15.32 points, or 0.78 percent, to finish at 1,991.85.

Dealers here said that new BOJ Governor Kazuo Ueda saying in his first press conference a day earlier that the bank's ultra-loose monetary policy remains appropriate, helped buoy the sentiment.

They added that while Ueda's remarks came as no surprise, the promise of continued low borrowing costs for the time being was greeted as a positive.

"While the BOJ chief's remarks were largely expected, investors welcomed them, but we expect the bank to scrap the yield curve control program sooner than expected," Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.

Analysts here also noted that exporters got a lift as the yen retreated versus the U.S. dollar, a boon for makers overseas as profits are boosted when repatriated and price-competitiveness in overseas markets enhanced.

Semiconductor-linked shares also gained traction, following the sector performing well on Wall Street overnight, traders said.

Exporters advancing on the yen's retreat included Panasonic adding 0.9 percent and Sony rising 1.5 percent. Automakers Nissan and Mazda Motor, meanwhile, both closed in positive territory.

Chip-testing equipment maker Advantest closed up 2.0 percent, while semiconductor manufacturing equipment maker Tokyo Electron jumped 3.7 percent.

Trading houses also found favor, with Sumitomo advancing 3.2 percent, while Marubeni climbed 4.6 percent.

By the close of play, precision instrument, wholesale trade and electric appliance issues comprised those that gained the most.

On the Prime Market on Tuesday, trading volume totaled 2,526.06 billion yen (18.98 billion U.S. dollars). Enditem

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