Tokyo stocks inch up on buybacks, fears about U.S. rate hikes persist

Tokyo stocks ended slightly higher Thursday on buybacks after sharp falls the previous day, but gains were limited amid persistent concerns over an increased pace of interest rate hikes in the United States following unexpectedly strong U.S. inflation data. The 225-issue Nikkei Stock Average ended up 57.29 points, or 0.21 percent, from Wednesday at 27,875.91. The broader Topix index finished 2.97 points, or 0.15 percent, higher at 1,950.43. On the top-tier Prime Market, gainers were led by air transportation, land transportation, and mining issues.