Tokyo stocks closed the morning slightly higher Thursday, supported by short-covering for such laggards as utilities and steelmakers. The Nikkei Stock Average was up 37.78 points, or 0.43%, at 8,918.94, according to the (Nikkei) website. Concern about a possible further decline in the benchmark index have tapered off following Wall Street's steady overnight performance. The market was also supported by the agreement reached Wednesday between the ruling Democratic Party of Japan, and the opposition Liberal Democratic Party and its ally, New Komeito, to try to pass bills on reforming the nation's tax and social security systems as quickly as possible.
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