Yen inches up vs. dollar from 32-year low on intervention fears

The yen inched up against the U.S. dollar Tuesday in Tokyo from a new 32-year low in the 149 zone overnight, as investors remained jittery over a possible yen-buying intervention by Japan following fresh warnings from the government.

Tokyo stocks ended higher, with market participants taking heart from the new British finance minister's announcement of the scrapping of almost all planned tax cuts to contain turmoil in the financial markets.

The 225-issue Nikkei Stock Average ended up 380.35 points, or 1.42 percent, from Monday at 27,156.14. The broader Topix index finished 21.88 points, or 1.16 percent, higher at 1,901.44.

On the top-tier Prime Market, gainers were led by precision instrument, pharmaceutical, and service issues.

© Kyodo News