TOKYO, June 12 (Xinhua) — Japan’s benchmark Nikkei stock index ended larger Monday, monitoring positive aspects on Wall Street in a single day, as buyers eyed the result of the U.S. Federal Reserve and the Bank of Japan’s policy-setting assembly this week.
The 225-issue Nikkei Stock Average gained 168.83 factors, or 0.52 %, from Friday to shut the day at 32,434.00.
The broader Topix index, in the meantime, gained 14.45 factors, or 0.65 %, to complete at 2,238.77.
Dealers right here mentioned that drugmakers bought a lift following Eisai’s new Alzheimer’s drug collectively developed with U.S. biotech large Biogen Inc., receiving approval from a U.S. Food and Drug Administration panel.
They added that semiconductor-oriented points additionally discovered favor, following their U.S. friends climbing larger in a single day.
But some buyers adopted a wait-and-see strategy, market strategists right here mentioned, forward of the result of the Fed’s two-day assembly ending Wednesday and the result of the Bank of Japan’s assembly on Friday.
Key U.S. inflation information scheduled for launch Tuesday night will probably inform the Fed’s choice as as to if to proceed with its aggressive charge hikes to fight inflation, decrease its charge, or skip a month of curiosity hikes, they added.
“Japan, the United States, and Europe all have central bank policy meetings taking place, and various indicators to confirm the economic situation will also be released,” Shingo Ide, chief fairness strategist on the NLI Research Institute, was quoted as saying.
“Until the U.S. consumer price index data for May is released Tuesday night the Japanese market is likely to show a strong wait-and-see attitude, with movements limited,” mentioned Ide.
Among pharmaceutical points gaining floor, Eisai Co. added 1.9 %, whereas Daiichi Sankyo climbed 4.1 %. Chugai Pharmaceutical, in the meantime, ended 2.1 % larger.
Chip-linked points gaining traction included chip-making equipment maker Tokyo Electron advancing 0.2 %, whereas chip-testing gear maker Advantest rose 2.9 %. Chip producer Renesas Electronics, for its half, ended the day 1.8 % larger.
By the shut of play, precision instrument, pharmaceutical, and pulp and paper-linked points comprised those who gained probably the most.
The turnover on the Prime Market on the primary buying and selling day of the week got here to three,042.21 billion yen (21.85 billion U.S. {dollars}).