However, gains were limited as investors watch the outcome of Wednesday’s Federal Reserve monetary policy announcement and Thursday’s Bank of Japan meeting.
At the close, the 225-issue Nikkei Stock Average was up 120.77 points, or 0.44%, at 27,688.42. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 8.71 points, or 0.45%, to 1,947.27.
Investors expected at least another 75 basis point rate hike at the end of a two-day meeting of the Federal Open Market Committee on Wednesday.
The Bank of Japan, however, is expected to remain a global exception in refusing to raise interest rates, even if inflation rises. Japan announced on Tuesday that core consumer inflation hit a nearly eight-year high in August.
Shares of tech companies rose in line with the rise of their U.S. counterparts, with chip-making equipment maker Tokyo Electron and tech conglomerate SoftBank Group Corp finishing higher.
Mobile phone operator KDDI Corp gained 1.8%, while electrical components maker TDK Corp rose 2.7%.
CURRENCY NEWS: The US Dollar hovered mostly around the 143 yen line as domestic corporate dollar buying was offset by selling aimed at adjusting positions ahead of the two-day policy meetings of US central banks and Japanese, starting Tuesday and Wednesday, respectively. The U.S. dollar hit 143.08-10 yen from 143.15-25 yen in New York as of 5 p.m. Monday.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)