2013.07.0902:21:28UTC+00Japan stocks surge after U.S. rally; insurers advance

Japanese stocks bolstered early on Tuesday trading action to catch up with an extended rally on Wall Street and after Alcoa Inc. reported better-than-expected results, with real-estate, insurance and automobile shares posting wins. The Nikkei Stock Average jumped 1.3% and the broader Topix index acquired a 1.4% increase, recovering the losses they recorded Monday, when they reversed sharp early gains amid worries over the Chinese economy. Shares of Sumitomo Realty & Development Co. soared 3%, while Tokio Marine Holdings Inc. boosted 2.7%, aided by a Nikkei newspaper report Japanese insurers were likely to be excluded from new global capital requirements set to take effect in 2016. Hino Motors Ltd. skyrocketed 3.7% after a separate Nikkei report said it was expected to double its group managing earnings in the quarter ended June 30.