Tokyo - Tokyo stocks rose 1.35 percent on Wednesday, encouraged by gains on Wall Street as investors await the outcome of a crucial Federal Reserve policy meeting.
The benchmark Nikkei 225 index was up 193.69 points at 14,505.36, while the Topix index of all first-section shares added 0.97 percent, or 11.43 points, to 1,193.07.
The Fed is to wrap up a two-day policy meeting Wednesday with high expectations that it will start reeling in its massive stimulus plan, known as quantitative easing.
“Japan stock investors are encouraged by the relative resilience in both the dollar and in US indices' apparent acceptance of at least a modest amount of Fed tapering,” said Tachibana Securities market adviser Kenichi Hirano.
“A lot (on Thursday) will depend on how US markets react to the central bank's decision - as well as its rationale for its course of action,” he told Dow Jones Newswires.
Wall Street Tuesday closed higher on rising investor confidence that the world's biggest economy could withstand the expected reduction of Fed bond purchases.
In Tokyo share trading Wednesday, Uniqlo clothing chain operator Fast Retailing was up 3.26 percent at 36,350 yen while industrial robotics maker Fanuc advanced 2.42 percent to 16,880 yen.
Exporters were generally higher with Toyota rising 1.44 percent to 6,330 yen and Sony up 0.85 percent at 2,133 yen.
The dollar bought 99.19 yen in Tokyo afternoon trade, against 99.14 yen in New York on Tuesday. - Sapa-AFP