TOKYO, March 16 (Xinhua) -- Tokyo stocks closed sharply higher on Wednesday, gaining particularly in transportation and other leisure-related shares, as the Japanese government is expected to lift its COVID-19 quasi-state of emergency amid a slowdown in the spread of infections.
The 225-issue Nikkei Stock Average closed up 415.53 points, or 1.64 percent, from Tuesday at 25,762.01.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 26.62 points, or 1.46 percent, higher at 1,853.25.
Gainers were led by air transportation, service and electric appliance issues.
Tokyo stocks opened in positive territory, as market players bought in stocks of companies likely to benefit from the expected lifting of the COVID-19 quasi-emergency measures.
The capital city of Tokyo and some other prefectures currently under the COVID-19 quasi-state of emergency have already begun to make arrangements to lift the measures scheduled to last till Monday before asking the central government to officially make a decision on lifting them.
"People's movements are expected to gradually increase following the lifting of the measures. So issues related to transportation, dining out and leisure activities met buying," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.
Investor confidence was also boosted by an easing of concern about inflation after crude oil futures dropped overnight to the lowest level in about two weeks during New York trading.
With expectations that energy supplies from Russia would be greatly reduced, oil prices had recently surged, fueling concerns among investors about the possible impact of higher energy prices on the global economy.
However, their attention was drawn to the afternoon developments related to the the outcome of the U.S. Federal Reserve's two-day policy meeting ending Wednesday.
On the First Section, advancing issues outnumbered declining ones 1,331 to 749, while 100 finished the day unchanged.
Transportation issues were among the strongest gainers.
Japan Airlines jumped 5.2 percent, while ANA Holdings increased 2.8 percent. East Japan Railway rose 2.4 percent.
Tokyo Disney Resort operator Oriental Land gained 3.7 percent, and travel agency H.I.S. surged 7.5 percent.
Trading volume on the main section increased to 1,339.86 million shares compared to Tuesday's 1,222.08 million. ■
