By Laura He, MarketWatch
Reuters Enlarge Image
HONG KONG (MarketWatch) — Japan stocks gained further on Wednesday to a fresh one-month high, as the yen weakened versus the greenback ahead of the outcome of the Federal Reserve’s policy meeting later in the day.
The Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.40% edged up 0.2% at 17,795.73, extending gains after touching a one-month closing high in the previous day. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.0006% rose 0.3%.
Meanwhile, the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0121% declined against the dollar to ¥118.05, compared with ¥117.78 late Tuesday in New York, as investors awaited the upcoming statement of the Federal Reserve after its two-day policy meeting that started Tuesday.
Among big movers, electronics giant Sharp Corporation /zigman2/quotes/203224600/delayed JP:6753 -0.17% jumped 4.4%, media conglomerate Sony Corporation /zigman2/quotes/201361720/delayed JP:6758 +3.27% advanced 2.7%, Panasonic Corporation /zigman2/quotes/201785256/delayed JP:6752 +0.95% advanced 2%, while maker of construction and mining equipment Komatsu Ltd. /zigman2/quotes/204002437/delayed JP:6301 +0.41% declined 2.3%, and semiconductor maker Tokyo Electron Ltd. /zigman2/quotes/202883609/delayed JP:8035 +0.08% lost 1.9%.
Most also other Asian markets closed higher, as South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.42% tacked on 0.5%, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.31% finished up 0.2%, and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.59% inched 0.1% higher.
However, Shanghai stocks bucked the trend and extended losses, with the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.39% retreating 1.4%.