Tokyo stocks close at fresh year high Tokyo stocks closed at their highest level since last March's earthquake as investors were heartened by hopes of further monetary stimulus in the US. The Nikkei 225 Average jumped 2.4 per cent to 10,255.15, following Wall Street stocks higher after US Federal Reserve chairman Ben Bernanke said accommodative monetary policy remained appropriate to help increase the momentum of the nascent economic recovery. Japanese exporters with exposure to the US climbed strongly, thanks also to an extra boost from currency markets as the yen weakened against the dollar. This included carmakers and left Toyota Motor 3.6 per cent higher at Y3,600, while Honda Motor added 3.5 per cent to Y3,270. Sumitomo Metal Mining jumped 5.9 per cent to Y1,231 after it estimated gold deposits at a discovery in Alaska at about 40 tonnes. Financial stocks were also on the rebound. Fukuoka Financial Group gained 6.1 per cent to Y383, Dai Ichi Life Insurance climbed 4.8 per cent to Y117,600 and Mitsubishi UFJ Financial Group rose 4.3 per cent to Y442. The FTSE Asia Pacific index climbed 1.7 per cent to 247.07 in late trade. South Korea's Kospi Composite index gained 1 per cent to 2,039.76, benefiting from a reading showing consumer confidence in the country at its highest in four months. Among the top gainers was Korea Gas, up 11.1 per cent to Won42,950, after the country's biggest liquefied natural gas importer announced new reserves in Mozambique discovered by Eni, its Italian partner. Hong Kong stocks also bounced. The Hang Seng index has fallen 3.1 per cent since the beginning of last week in response to weaker growth signals from China. On Tuesday, however, the Hong Kong benchmark climbed 1.8 per cent to 21,046.91, led by property developers and financials. Shares in Shanghai, however, remained under pressure and the Composite index fell 0.2 per cent to 2,347.2.