Japan’s Nikkei rose on Thursday and hovered at six-week highs after the U.S. Federal Reserve signalled it was ready to cut interest rates to support the economy, but gains were gapped by a stronger yen.
The Nikkei share average rose 0.5% to 21,442.94 points by midmorning, after it climbed 1.7% on Wednesday. The broader Topix gained 0.3% to 1,560.
The Fed said that it was ready to battle growing global and domestic economic risks, with rate cuts possibly as early as next month.
“The dovish Fed message is supporting sentiment and the market is relieved for now,” said Takashi Ito, an equity market strategist at Nomura Securities.
Source : Reuters