Japanese stocks edges higher ahead of Fed decision; Toshiba jumps

Japanese stocks edged higher on Wednesday but gains were limited as many investors awaited the U.S. Federal Reserve’s policy decision later in the day, while Toshiba jumped after announcing a major share buyback.

Toshiba Corp surged 6.7 percent after saying it would buy back up to about 700 billion yen ($ 6.33 billion) of its shares.

The Nikkei share average ended 0.4 percent higher to 22,966.38.

Investors turned attention from Tuesday’s U.S.-North Korea summit in Singapore to the Fed’s coming decision and statement.

In Wednesday’s trading, exporters were mixed, with automakers attracting buying, while technology stocks were sold off. Toyota Motor Corp rose 1.3 percent, while Advantest Corp shed 0.7 percent and Panasonic Corp dropped 0.5 percent.

The broader Topix gained 0.4 percent to 1,800.37.

Source: Reuters

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Sumber : bpfnews.com

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