Japan Shares Eke Out Gains on Fed-Cut Bets; Yen Strength Weighs

Japanese shares ended Monday higher, as Jerome Powell’s dovish comments whetted risk appetite. Concerns that the yen will strengthen if the Federal Reserve cuts interest rates capped gains, however.

The broader Topix Index rose 0.1% as of market close in Tokyo, with the Nikkei 225 gaining 0.4% after climbing as much as 1.3% in morning trade. Trading houses and machinery stocks lifted the Topix the most, while retail and IT shares dragged.