TOKYO (AFP): Tokyo’s key Nikkei index ended slightly higher Tuesday ahead of a closely watched Federal Reserve policy decision, with Japanese markets closed for the rest of the week.
The benchmark Nikkei 225 index added 0.12 percent, or 34.77 points to 29,157.95 — the highest close since August last year, having advanced for four straight sessions.
The broader Topix index slipped 0.12 percent, or 2.53 points, to 2,075.53.
The dollar stood at 137.59 yen, further advancing from 137.45 yen in New York and 136.91 yen in Tokyo on Monday.
The strong dollar and solid corporate earnings have brightened market sentiment, analysts said.
But Tokyo shares spent the day hovering around Monday’s close ahead of a series of Japanese national holidays known as Golden Week. Normal trade resumes from Monday.
Wall Street stocks ended lower overnight as markets digested the sale of California’s troubled First Republic Bank.
Investors in Tokyo were not rattled by the takeover, said Chihiro Ota, assistant general manager of investment research and investor services at SMBC Nikko Securities.
“Trade lacked a sense of direction. It was mixed. Before a five-day break (and various international economic data), you cannot pour resources into Japanese shares,” he said.
While the Tokyo market is shut, the US Federal Reserve will conduct a two-day policy meeting with chair Jerome Powell to address the media on Wednesday.
The European Central Bank will also make a policy decision. ECB President Christine Lagarde’s press conference is scheduled for Thursday.
Global market players will review key American indicators, including figures related to jobs and employment.
In Tokyo, chip-related shares were among the winners. Rohm rose 1.83 percent to 10,600 yen and Advantest jumped 3.53 percent to 11,140 yen, while Tokyo Electron, which makes tools to build semiconductors, added 1.48 percent to 15,730 yen.
SoftBank Group added 0.14 percent to 5,170 yen, but Toyota dropped 0.51 percent to 1,864.5 yen. Mitsubishi UFJ Financial Group fell 0.77 percent to 862.6 yen. Heavily weighted Fast Retailing, which operates Uniqlo, fell 0.40 percent to 31,970 yen.
