Nikkei tracks Wall Street higher ahead of US inflation report

Japan’s Nikkei closed higher on Tuesday, tracking Wall Street’s gains led by video game company Nintendo, even though investors were cautious ahead of a major US inflation report.

The Nikkei index ended trading up 0.25 percent at 28,614.63 points, after rising earlier in the session to 28,659.76 points, its highest level since August 26. Among the 225 stocks on the index, 128 rose and 86 fell, while 11 stocks closed unchanged.

The broader Topix index rose 0.32 percent to 1986.57 points.

The US Standard & Poor’s index had risen more than one percent overnight before the release of the consumer price index report on Tuesday, through which investors will feel indications about the extent of the Federal Reserve’s monetary policy tightening in the coming period.

The energy sector was the best performer on the Nikkei, which rose 0.85 percent, as crude oil continued to recover from its lowest levels in several months amid concerns about supplies destined for the northern hemisphere in the winter.

Nintendo was the best performer on the index, jumping 5.51 percent after it announced record domestic sales of its new game.

Travel-related stocks also rose after a report on Monday said Japan plans to drop requirements for tourist visas from some countries as part of measures to relax strict border controls.