Japanese stocks closed higher despite paring gains after the yen strengthened against the dollar following the Bank of Japan's decision to keep its monetary stimulus unchanged.
Services companies and railways rose, while automakers and machinery manufacturers fell. The Topix ended Thursday up 0.6%, trimming a gain of as much as 1.2%.
The BOJ maintained its monetary stimulus and called for a reexamination of prices and the economy at its October meeting, choosing to sit tight for now just hours after the Federal Reserve cut interest rates again. Shares in Tokyo had opened higher after U.S. equities wiped out earlier losses after Fed Chairman Jerome Powell left the door open to “a more extensive sequences of cuts” if needed.
Topix +0.6% to close at 1,615.66 in Tokyo. Nikkei 225 +0.4% at 22,044.45, after gaining as much as 1.3% earlier.
Source : Bloomberg