January 23, 2018 / 6:51 AM / 8 months ago

Nikkei closes at highest in over 26 years; real estate gains

TOKYO, Jan 23 (Reuters) - Japan’s Nikkei share average on Tuesday ended at its highest in more than 26 years, with real estate and precision machinery stocks leading the gains.

The Nikkei finished up 1.3 percent at 24,124.15. Earlier in the session, it touched 24,129.34, its highest intraday level since November 1991.

The broader Topix gained 1 percent to 1,911.07, after rising to an intraday high of 1,911.31, its highest since June 1991.

Advancers outnumbered decliners 456 to 180, with 47 issues ending unchanged.

Shares of Torii Pharmaceutical ended 4.6 percent higher after it raised its net profit outlook on Monday, helping the pharmaceutical sector gain 1.2 percent.

DIC Corp closed 2.9 percent up after business daily Nikkei reported that the chemical company’s group operating profit rose 5 percent in 2017.

Real estate shares added 2.1 percent, while precision machinery shares gained 1.9 percent.

Earlier on Tuesday, the Bank of Japan kept its monetary settings unchanged and offered a more upbeat view on inflation expectations than three months ago, signalling its conviction that a strengthening recovery will gradually push price growth to its 2 percent target. (Reporting by Tokyo markets team, Editing by Sherry Jacob-Phillips)

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