(Updates at 0220 GMT)
TOKYO, Nov 6 (Reuters) - Japan's Nikkei share average
tracked Wall Street's strong finish on Wednesday as market
participants awaited indications of the outcome of a knife-edge
U.S. presidential election.
The Nikkei was up 1.9% at 39,211.84, as of 0216
GMT, while the broader Topix gained 1.6% at 2,706.51.
U.S. stocks closed sharply higher in a broad rally on
Tuesday after data signalled a solid economy, but investors
braced for volatile trading this week as voting was underway in
an extremely tight presidential election.
The Nikkei accelerated gains as the dollar strengthened
against the yen. The dollar climbed 1% to 153.22 yen.
A weaker yen tends to boost Japanese exporters' overseas
earnings when repatriated.
"The market is looking ahead of the election outcome
already, with the dollar gaining and Japanese stocks rising,"
said Yugo Tsuboi, chief strategist at Daiwa Securities.
Risk money started flowing into global equities after strong
U.S. economic data, said Shigetoshi Kamada, general manager at
the research department at Tachibana Securities.
"That lifted Japanese stocks. Whoever becomes the U.S.
President, the U.S. economy looks to remain solid and that's a
follow wind for U.S. equities."
The Institute for Supply Management said its
non-manufacturing purchasing managers index, a gauge of the
services sector, accelerated to 56.0 last month, its highest
since August 2022.
In Japan, technology stocks led the gains, with chip-testing
equipment maker Advantest ( ADTTF ) jumping 6.3% to become the
biggest boost to the Nikkei.
Toyota Motor ( TM ) slipped 0.68% ahead of its earnings
announcement later in the day.
"Toyota's ( TM ) outlook will be a gauge for the market to confirm
fundamentals of local firms, which we need to see for further
gains of the Nikkei" said Kamada.
Shares of Nintendo ( NTDOF ) jumped 4.3% even as the gaming
company cut its operating profit forecast for the year to March
2025 by 10%.