Japan Shares Rise on Yen; Volume Low Before Fed Meeting
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Japanese shares rose, with the Topix index rebounding from four weeks of losses, amid lower volume ahead of tomorrow’s Federal Reserve policy meeting. The yen weakened from its strongest against the dollar in two months.
Toyota Motor Corp., which gets 75 percent of its sales abroad, advanced 2 percent. Chiyoda Corp. surged 8 percent after Bank of America Merrill Lynch upgraded the industrial-plant maker. Japan Tobacco Inc. climbed 5 percent after saying domestic cigarette sales rose in May. Mitsubishi Estate Co. fell 2.4 percent as developers retreated the most among the Topix’s 33 industry groups.