TOKYO, Sept. 22 (Xinhua) -- Tokyo stocks rebounded on Monday, as buying by overseas investors, encouraged by gains on Wall Street, drove the rally.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed up 447.85 points, or 0.99 percent, at 45,493.66, renewing its record high after a two-day pause.
Buying was particularly strong in high-priced semiconductor and electronic component stocks, at one point lifting the index by more than 700 points. Optimism grew that the U.S. economy would remain resilient as the Federal Reserve continues rate cuts through year-end.
The ruling Liberal Democratic Party's leadership election, formally launched on Monday, also drew market attention. Some investors noted the historical pattern of equities rising around such contests, adding to expectations of further gains.
The broader Topix index rose 15.49 points, or 0.49 percent, to finish the day at 3,163.17.
On the Tokyo Stock Exchange Prime Market, gainers numbered 928, losers 630, and 60 were unchanged. ■
