Japan Stocks Soared On Stronger Japanese GDP and Asian markets

Tokyo stocks closed sharply higher Wednesday on rises in Asian stock markets and stronger-than-expected Japanese economic growth data.

The 225-issue Nikkei Stock Average gained 162.31 points, or 1.16 percent, from Tuesday to 14,183.48. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 6.83 points, or 0.49 percent, to 1,390.03.

Gains were led by glass and ceramics, transport equipment and rubber product issues. Major losers included mining, sea transport and consumer finance issues.

Stocks began on a firm note but for most of the morning session, both the Nikkei and Topix indexes fluctuated between positive and negative territory.

Tokyo stocks eventually picked up in the afternoon on the back of firmness in some of their Asian peers and stronger-than-expected Japanese gross domestic product data for the first quarter of the year, released earlier in the day, brokers said.

Kazuhiro Takahashi, general manager of the global product planning department at Daiwa Securities SMBC Co., said, ''Tokyo stocks are rebounding, taking into view (the rise in) Hong Kong's Hang Seng Index.'' Other key Asian stock indexes including India's Sensex were in positive territory, brokers said.

Investors saw the Tokyo market tumble Tuesday as investor sentiment was battered by falls across the board in Asian equities amid growing inflation worries.