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Tokyo stocks rise on position adjustment ahead of US Fed outcome
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| 14 jam yang lalu
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TOKYO (Kyodo) -- Tokyo stocks rose Wednesday on position adjustments ahead of the outcome of the U.S. Federal Reserve's policy meeting.
The 225-issue Nikkei Stock Average ended up 438.90 points, or 0.69 percent, from Tuesday at 63,923.00. The broader Topix index finished 24.56 points, or 0.61 percent, higher at 4,061.72.
On the top-tier Prime Market, the main gainers were oil and coal product, mining and textile and apparel issues.
The U.S. dollar briefly strengthened to the mid-155 yen level in Tokyo as the yen was sold amid rising crude oil prices.
Stocks fluctuated amid a wait-and-see mood ahead of the outcome of the Federal Open Market Committee meeting, which is expected to result in an interest rate hike, dealers said. Market players are also waiting for remarks by U.S. Federal Reserve Chair Kevin Warsh at a press conference for clues about the Fed's monetary policy.
"Position adjustment left the market with a slightly positive bias," said Toshikazu Horiuchi, equity strategist at IwaiCosmo Securities Co.
Buying of non-technology shares lifted the Topix index, while the yen's weakness near a one-week low also prompted buying of exporters such as automobile shares.
The benchmark Nikkei index traded mostly in negative territory in the morning but was later lifted by heavyweight technology shares, which were also supported by gains in South Korea's tech-heavy Kospi index.
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