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Tokyo stocks rise slightly ahead of Fed meeting

Jiji Press TOKYO (Jiji Press) — Stocks advanced slightly on the Tokyo Stock Exchange Monday amid a wait-and-see mood prior to the U.S. Federal Reserve’s policy-setting meeting later this week.

The 225-issue Nikkei average gained 29.14 points, or 0.15 percent, to close at 19,633.75, marking its highest finish since Dec. 7, 2015. On Friday, the key market gauge jumped 286.03.

The TOPIX index of all First Section issues ended up 3.39 points, or 0.22 percent, at 1,577.40, after climbing 19.33 points the previous trading day.

Rising issues outnumbered falling ones 998 to 849 in the TSE’s first section, while 157 issues were unchanged.

Volume slumped to 1,471 million shares from Friday’s 2,267 million shares.

In index futures trading on the Osaka Exchange, the key June contract on the Nikkei average finished up 50 points at 19,520.

After opening weaker on the back of a stronger yen, the Tokyo market wiped out the losses, led by domestic demand-oriented names, brokers said.

While the dollar’s drop below ¥115 weighed on export-oriented names, other mainstay issues, such as telecommunications service providers, attracted buying and helped lift the overall market, brokers said.

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