Tokyo's Nikkei index ends 3% higher on British tax cut plan reversal

Tokyo stocks ended sharply higher Tuesday, with the Nikkei index surging nearly 3 percent, as sentiment was boosted by the British government's announcement to scrap controversial tax cuts.

The 225-issue Nikkei Stock Average rose 776.42 points, or 2.96 percent, from Monday to 26,992.21. The broader Topix index was up 59.31 points, or 3.21 percent, at 1,906.89.

Every industry category gained ground on the top-tier Prime Market, led by wholesale trade, mining, and oil and coal product issues.

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