Japan’s Topix index rose for a second day, posting its highest close in more than four months, as the yen held losses and investors awaited a Federal Reserve decision on monetary policy. Brokerages led gains.
The Nikkei 225 Stock Average fell from a seven-month high after a technical indicator signaled the market may be overheating. Losses were limited as utilities rose on prospects for a restart of nuclear reactors this summer.
Japanese stocks surged, with the Nikkei 225 Stock Average capping the biggest three-day rally in two years, after Haruhiko Kuroda announced unprecedented stimulus in his first policy meeting as Bank of Japan governor.
Soichiro Monji, chief strategist at Tokyo-based Daiwa SB Investments Ltd., which manages the equivalent of about 6 trillion yen ($67 billion), speaks on the Bank of Japan’s policy decision today and its impact on the market.
Japan’s Nikkei 225 Stock Average rose past 10,000 for the first time since June, led by financial companies on speculation an improving economy will boost earnings, and as the euro advanced against the yen.