Nikkei posts biggest gain in 2 weeks

Markets await word on snap election, delay in tax hike

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% higher at 17,344.06, the biggest daily percentage gain since Nov 4.

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

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