Tokyo, Sep 18 (IANS) Tokyo stocks closed higher on Wednesday, as exporters were lifted by the Yen’s weakness, but gains were trimmed amid a wait-and-see stance ahead of the US Federal Reserve’s decision on interest rate cuts.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 176.95 points, or 0.49 per cent, from Tuesday at 36,380.17, Xinhua news agency reported.
The broader Topix index, meanwhile, finished 9.61 points, or 0.38 per cent, higher at 2,565.37.
The US dollar briefly weakened to the lower 141-yen zone in Tokyo. Market watchers here noted that the US currency’s setback in Tokyo likely reflected uncertainty over whether the Fed will cut interest rates by 0.25 percentage point or a deeper 0.50 point.
Stocks snapped two consecutive trading days of falls, as a weaker yen compared to a day prior drove investors to buy back exporters, but trading volumes dropped significantly in the afternoon as caution prevailed ahead of the Fed meeting outcome, analysts said.
–IANS
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