TOKYO stocks have closed 0.98 per cent higher as investors welcomed news of the Bank of Japan's (BoJ) latest monetary easing measures aimed at boosting the world's third-largest economy.
The benchmark Nikkei 225 index at the Tokyo Stock Exchange on Wednesday rallied 86.31 points to 8,928.29, while the broader Topix index of all first-section shares rose 1.21 per cent, or 8.87 points, to 742.33.
The BoJ's Y11 trillion ($A134.06 billion) in fresh easing measures was announced just before the Tokyo market closed on Tuesday. The central bank also unveiled an "unlimited" loan program to commercial banks in a bid to spur their lending to businesses and households.
The easing injects liquidity into markets through purchases of government and corporate bonds and commercial paper.
Investors welcomed the measures following similar moves by central bankers in the United States and Europe, although it remained to be seen whether the BoJ's latest plan would quicken the lumbering Japanese economy.
The effectiveness of the new lending program hinged on the strength of demand for loans among companies and households, said Yoshihiro Okumura, general manager of research at Chibagin Asset Management.
"If there is no demand, it doesn't function," Okumura told Dow Jones Newswires.
However, the nation's companies continue securing big overseas deals on the back of a strong yen, including mobile carrier Softbank's recent announcement of a $US20 billion ($A19.38 billion) takeover of US-based Sprint Nextel - a deal largely financed by bank loans.
The Nikkei also got support from month-end buybacks, brokers said.
Heavily-weighted major exporters rose, with factory automation firm Fanuc rising 1.59 per cent to Y12,710 and Honda up 2.44 per cent to Y2,390.
Construction machinery maker Komatsu jumped 3.20 per cent to Y1,672 after saying its full-year profit forecast remained unchanged, despite a 30.2 per cent drop in earnings for the first six months to September.
Japanese manufacturers with exposure to China, including Komatsu, have seen their bottom line hit by a diplomatic row over an East China Sea island chain that has prompted a consumer move away from Japan-brand products.
Hitachi rose 3.17 per cent to Y423 after it maintained its full-year profit forecast while announcing it would buy British atomic power venture Horizon to expand its nuclear business overseas.
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