Tokyo stocks open 0.73% higher on strong Wall Street gains

TOKYO: Tokyo stocks opened 0.73 per cent higher on Wednesday following strong gains on Wall Street and as the yen fell against the dollar.

The Nikkei 225 index at the Tokyo Stock Exchange rose 112.48 points to 15,442.39 at the start.

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“A higher Wall Street and a higher dollar bode well for the Nikkei, although many investors remain sidelined” while awaiting the outcome of the US Federal Reserve’s policy meeting on Wednesday, said SMBC Nikko Securities general manager of equities Hiroichi Nishi.

The Federal Open Market Committee is widely expected to announce it is winding down its stimulus programme but any hint about its future interest rate policy could sway markets.