TOKYO: Tokyo stocks rose on Wednesday, led by gains in chip-related shares, as investors await the outcome of the US Federal Reserve’s policy meeting later in the day.
The benchmark Nikkei 225 index gained 0.20%, or 42.07 points, to close at 21,608.92 while the broader Topix index was up 0.26%, or 4.16 points, at 1,614.39.
“Some semiconductor shares gained ground following a rise in their US counterparts overnight,“ said Daiwa Securities senior technical analyst Hikaru Sato.
“But trading was in a tight range ahead of the holiday as they are waiting for the Fed meeting,“ Sato told AFP.
Tokyo financial markets are closed on Thursday for a national holiday.
“Uncertainty over Brexit also prevented players from trading actively,“ while investors continued paying attention to US-China trade talks, Sato said.
US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will return to Beijing next week as the US and China inch toward resolving their trade war, a senior administration official told AFP on Tuesday.
After next week’s talks in Beijing, Chinese trade envoy Liu He will return to Washington the following week, the Wall Street Journal reported, adding that officials said talks were in their final stages.
But the South China Morning Post said the trade deal may be pushed back to June, while other reports have said issues over the troubled Boeing 737 MAX aircraft may complicate the trade talks.
The dollar fetched 111.55 yen in Asian afternoon trade, against 111.40 yen in New York.
In Tokyo, chipmaker Renesas jumped 5.79% to 566 yen as chip-making equipment manufacturer Tokyo Electron rose 0.38% to 15,700 yen.
Nintendo dropped 3.20% to 30,480 yen and Sony was down 3.37% at 4,951 yen after US tech giant Google said it is releasing a Stadia gaming platform that will let players stream blockbuster titles to any device they wish.
The tech giant also unveiled a new controller and its own game studio. — AFP
