Tokyo stocks close up

21 March, 2019 12:00 AM printer

TOKYO: Tokyo stocks rose on Wednesday, led by gains in chip-related shares, as investors await the outcome of the US Federal Reserve’s policy meeting later in the day.

The benchmark Nikkei 225 index gained 0.20 percent, or 42.07 points, to close at 21,608.92 while the broader Topix index was up 0.26 percent, or 4.16 points, at 1,614.39, reports AFP.

“Some semiconductor shares gained ground following a rise in their US counterparts overnight,” said Daiwa Securities senior technical analyst Hikaru Sato.

“But trading was in a tight range ahead of the holiday as they are waiting for the Fed meeting,” Sato told AFP.

Tokyo financial markets are closed on Thursday for a national holiday. “Uncertainty over Brexit also prevented players from trading actively,” while investors continued paying attention to US-China trade talks, Sato said.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will return to Beijing next week as the United States and China inch toward resolving their trade war, a senior administration official told AFP on Tuesday.