Nikkei posts biggest gain in 2 weeks as market awaits word on election, tax

Japan's Nikkei benchmark closed 2.2 per cent higher on Tuesday, the biggest daily percentage gain since Nov 4. as investors waited to see if Prime Minister Shinzo Abe would call a snap election and consider fresh steps to support the economy aft
Japan's Nikkei benchmark closed 2.2 per cent higher on Tuesday, the biggest daily percentage gain since Nov 4. as investors waited to see if Prime Minister Shinzo Abe would call a snap election and consider fresh steps to support the economy after it slipped into recession in the third quarter. -- PHOTO: REUTERS

TOKYO (Reuters) - Japanese stocks had their biggest gain in two weeks on Tuesday as investors waited to see if Prime Minister Shinzo Abe will call a snap election and consider fresh steps to support the economy after it slipped into recession in the third quarter.

The Nikkei benchmark closed 2.2 per cent higher at 17,344.06, the biggest daily percentage gain since Nov. 4.

Sony Corp stole the spotlight, soaring 6.4 per cent after it said it is aiming to garner up to US$11 billion in revenue from its movie business in three years' time, a 36 percent increase over levels forecast for the current financial year.

The broader Topix rose 2.1 per cent to 1,394.88, and the new JPX-Nikkei Index 400 gained 2.1 per cent to 12,727.58.