Nikkei 225 Up 1.18% On Overnight Wall Street Cues

The Nikkei 225 rallied for a second day, up 1.18% on overnight Wall Street record-high closes, receding geopolitical tensions, and a softer yen, the latter regarded positively in trade-oriented Japan.

In other news, Meiji (MEJHY, 2269;Tokyo) the largest chocolate-maker in Japan, reported sales of its upscale THE Chocolate brand are double projected, and that it must buy more cocoa from Latin America. A single 50-gram THE bar costs more than $2.

The benchmark Nikkei 225 opened higher and gave back no ground, finishing up 230.85, to 19,776.62, as gaining issues outnumbered losers 179 to 40.

Leading the upside were Japan Steel (JPSWY, 5631:Tokyo), up 16.5% on industry merger speculation; followed by battery-maker GS Yuasa (GYUAF, 6674:Tokyo), up 5.5%; and then machine-tools maker Okuna (6103:Tokyo), up 5.3%.

On the downside were Hawaii-centric real estate developer Haseko (HSKCF, 1808:Tokyo), off 2.7%; and then Yahoo Japan (YAHOY, 4689:Tokyo), off 1.7%.

By Garrett Hatch