Tokyo stocks close 0.29pc higher

TOKYO, June 17 (AFP): Tokyo stocks closed 0.29 per cent higher Tuesday on bargain hunting while a weaker yen boosted exporters, despite jitters over the unrest in Iraq.
The benchmark Nikkei 225 index added 42.68 points to finish at 14,975.97, while the Topix index of all first-section shares was also up 0.29 per cent, or 3.52 points, at 1,238.20.
Investors took advantage of cheaper valuations after the Nikkei tumbled more than one percent on Monday in reaction to the fighting in Iraq, where militants are sweeping towards Baghdad after taking over several towns.
On Wednesday the Fed wraps up a two-day policy meeting and while it is expected to further reduce its stimulus and keep interest rates at record lows, comments by bank chief Janet Yellen will be dissected for clues about future policy.
Kenichi Hirano, market analyst at Tachibana Securities, said: "The likelihood of a prolonged US rate scenario will weigh on the dollar's rise, normally an important ingredient to Japan stock market buying.
"But investors have been dip-buying for the last month, defying sometimes weaker-dollar days," he told Dow Jones Newswires.
In forex trade, the dollar rose to 101.94 from 101.84 yen. Canon rose 0.14 per cent to 3,391 yen while Uniqlo clothing chain operator Fast Retailing added 0.30 per cent to end at 33,250 yen.