The benchmark index of the Japanese stocks, the Nikkei 225 Stock Average touched its 18 months high on Tuesday as the commodity shares in the country rose after an increase in commodity prices.

The index may record 5.2 percent growth this quarter and 37 percent growth in financial year 2009-10. Some analysts expressed doubt that the rise may be as a result of short term buying but many believe that Nikkei is likely to rise in the coming financial year.

The increase in commodity linked stocks was also due to the increased spending by consumers in America where many Japanese firms are present in a major way. Camera major, Canon Inc. for instance gets 28 percent of its revenue in the Americas, its stocks rose 1.4 percent.

The largest commodity trader in the country, Mitsubishi Corp rose 2.1 percent after an increase in oil and metal prices. The shares of Kobe Steel recorded an increase of 3.6 percent after it was able to bring down its losses.

The Nikkei 225 Stock Average rose 110.67 points to close at 11,097.14 after an intraday high of 11,108.82 while the Topix index increased 0.5 percent to 970.93.

Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management expressed that he expects Nikkei to touch 12,000 in April-June.      

The unemployment rate in Japan was unchanged at 4.9 percent in February, according to the statistics bureau. According to the Trade ministry, the nation's industrial production fell 0.9 percent in February from a month earlier.