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Japanese stocks rose on Wednesday as investors continued to cover short positions after strong US consumer spending buoyed the sentiment, with automakers and electronics shares leading the gains.
But volume was thin, as most long-term investors remained on the sidelines ahead of Thursday’s US Federal Reserve policy meeting, which may end months of speculation on when the Fed will raise interest rates for the first time in nearly a decade.
The Nikkei share average rose 0.8 per cent to 18,171.60 points.
The broader Topix gained 0.7 per cent to 1,472.60, with only 1.88 billion shares changing hands, falling below its 5-day average of 2.2 billion shares. The JPX-Nikkei Index 400 gained 0.8 per cent to 13,218.10.
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