Japan’s stocks rebounded, following U.S. equities higher, as consumer lenders led gains on the Topix index ahead of meetings by the Federal Reserve and Bank of Japan this week.
The Topix added 2.1 percent to 1,388.98 as of 9:06 a.m. in Tokyo, with all of its 33 industry groups gaining. The gauge slumped 2.3 percent on Tuesday. The Nikkei 225 Stock Average advanced 1.8 percent to 17,016.09. Investors are awaiting the Fed’s first meeting since financial turmoil began this year and Friday’s policy decision from the BOJ.
Speculation has mounted that the BOJ also may deliver more market-friendly rhetoric or action at its monetary policy meeting on Jan. 29. Some BOJ officials view it a close call as to whether the policy board will add to stimulus, according to people familiar with discussions. Governor Haruhiko Kuroda played down the impact of recent market gyrations at Davos last weekend.