05:02 AM EST, 01/24/2023 (MT Newswires) -- The Nikkei 225 opened higher Tuesday and rose to the close, finishing up 1.5% after a US media report suggested the Federal REserve may slow or suspend rate hikes as early as spring.

The benchmark Nikkei 225 rose 393.15 to 27,299.19, as gaining issues outnumbered losers 207 to 15.

Leading the upside were industrial-equipment maker Ebara (EBCOY, 6361:Tokyo), up 6.5%, followed by imaging-house Konica Minolta (KNCAF, 4902:Tokyo), up 4.2%, and then semiconductor-equipment maker Hoya (HOCPY, 7741:Tokyo), up 3.8%.

On the thin downside were Nippon Steel (NISTF, 5401:Tokyo) off 2.8%, and then shipping line Kawasaki Kisen Kaisha (KAKKF, 9107:Tokyo), off 1.3%.

In other news, the leaders of Japan's largest labor group and top business lobby met Monday to discuss labor markets in the annual round of union-management negotiations, with both parties agreeing on the need for pay hikes to offset rising inflation, reported the Mainichi newspaper.

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