Japanese stocks followed U.S. shares higher as the Federal Reserve signaled it won’t rush into further rate increases after its first such move in almost a decade.
The Topix index added 1.5 percent to 1,563.56 as of 9:01 a.m., rising for a second day. All but one of its 33 industry groups advanced, led by insurers. The Nikkei 225 Stock Average gained 1.5 percent to 19,333.65. The yen traded at 122.38 per dollar after sliding 0.4 percent on Wednesday as the U.S. central bank ended seven years of near-zero interest rates, boosting demand for the greenback. The Bank of Japan is expected to maintain its record stimulus at the end of its meeting on Friday.
E-mini futures on the Standard & Poor’s 500 Index slipped 0.1 percent after the underlying measure climbed 1.5 percent on Wednesday, extending its gains following the Fed move and pushing the equity gauge to its biggest three-day rally since Oct. 5.
Source : Bloomberg