Nikkei shares rise; activity subdued 

Dhaka,  Wed,  23 August 2017
Published : 14 Jun 2017, 12:15:37

Nikkei shares rise; activity subdued ahead of Fed

Nikkei shares rise; activity subdued 
Japan's Nikkei share average rose on Wednesday morning tracking overnight gains on Wall Street, but activity was subdued ahead of the Federal Reserve's monetary policy decision.

The Nikkei rose 0.3 per cent to 19,953.33 in midmorning trade.

The index is expected to be confined to a narrow range ahead of the Fed's two-day policy meeting that ends on Wednesday, at which the US central bank is expected to raise interest rates.

Some tech shares rebounded as US technology stocks bounced back overnight. Kyocera Corp surged 3.2 per cent and TDK Corp gained 1.1 per cent.

Ono Pharmaceutical Co jumped 5.4 per cent and recorded the second highest turnover after the company said it will repurchase up to 20 million shares, representing 3.8 per cent of outstanding. 

Toshiba Corp stumbled five per cent partly on profit-taking, while sentiment was soured by a Mainichi Shimbun report that the company will delay filing of its annual financial report which is due the end of the month.

The broader Topix was flat at 1,593.68 and the JPX-Nikkei Index 400 was also flat at 14,186.41, according to Reuters.
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