Tokyo market edges up

TOKYO, Feb 16 (AFP): Tokyo stocks closed higher on Friday, extending gains from Wall Street as investors regained confidence and set aside inflation fears that stoked volatility earlier in the month.

The benchmark Nikkei 225 index gained 1.19 per cent, or 255.27 points, to 21,720.25. Over the week, it jumped 1.58 per cent.

The broader Topix index was up 1.05 percent, or 18.10 points, at 1,737.37, leaving it up 0.31 per cent over the week.

"Buying sentiment is reviving as investors bought on dips following the recent declines," said Shinichi Yamamoto, broker at Okasan Securities in Tokyo.

"The market took the lead from gains on Wall Street and appears to be bottoming out," Yamamoto told AFP.

Wall Street stocks enjoyed more solid gains Thursday, climbing for a fifth straight session.

The Dow Jones Industrial Average rose 1.2 per cent to close at 25,200.37.

Sony rose 1.75 per cent to 5,264 yen and Toyota gained 0.92 per cent to 7,208 yen.

Tokyo Electron, a major manufacturer of chip-making equipment, gained 1.81 per cent to 20,425 yen, after a brokerage upgraded its estimate of the firm's value.