TOKYO, June 24 (Xinhua) -- Tokyo stocks rebounded on Tuesday as investor sentiment was lifted after news that Israel and Iran had agreed to a ceasefire, easing geopolitical concerns.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 38,790.56, up 436.47 points, or 1.14 percent, from the previous trading day.
The broader Topix index also rebounded, rising 20.17 points, or 0.73 percent, to 2,781.35.
The rally was also supported by rising expectations of an early interest rate cut by the U.S. Federal Reserve.
Falling crude oil prices further boosted the market, as easing fears of inflation reduced pressure on the Fed to maintain high rates. However, after the morning surge, gains were trimmed as the Nikkei approached the psychologically important 39,000 level and faced profit-taking.
On the Tokyo Stock Exchange Prime Market, advancers numbered 1,044, while 509 stocks declined and 74 were unchanged. Enditem
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