Tokyo stocks rise slightly after buybacks, fears over US rate hikes persist

Tokyo shares ended slightly higher on redemptions on Thursday after sharp falls the day before, but gains were limited on lingering concerns about an accelerating pace of interest rate hikes in the United States following surprisingly strong US inflation data. The 225-number Nikkei Stock Average ended up 57.29 points, or 0.21%, from Wednesday at 27,875.91. The broader Topix index ended 2.97 points, or 0.15%, up at 1,950.43. In the top-tier core market, winners were led by air, ground transportation and mining issues.