Tokyo stocks end higher as weaker yen lifts exporters

TOKYO, Sept. 18 (Xinhua) — Tokyo stocks closed higher on Wednesday, as exporters were lifted by the yen’s weakness, but gains were trimmed amid a wait-and-see stance ahead of the U.S. Federal Reserve’s decision on interest rate cuts.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 176.95 points, or 0.49 percent, from Tuesday at 36,380.17.
The broader Topix index, meanwhile, finished 9.61 points, or 0.38 percent, higher at 2,565.37.
The U.S. dollar briefly weakened to the lower 141-yen zone in Tokyo. Market watchers here noted that the U.S. currency’s setback in Tokyo likely reflected uncertainty over whether the Fed will cut interest rates by 0.25 percentage point or a deeper 0.50 point.
Stocks snapped two consecutive trading days of falls, as a weaker yen compared to a day prior drove investors to buy back exporters, but trading volumes dropped significantly in the afternoon as caution prevailed ahead of the Fed meeting outcome, analysts said. ■