Tokyo stocks reversed earlier losses to close higher Thursday ending the Nikkei's seven-day run of closing lows as the Japanese government strongly indicated it would intervene into currency markets to rebalance what it described as "one-sided" currency moves.
The remarks strongly suggesting that Japan stood poised to intervene in currency markets made by Chief Cabinet Secretary Yoshihide Suga followed the U.S. dollar dropping to a fresh 17-month low versus the yen during trading hours Thursday as the dollar was sold for yen in the wake of the U.S. Federal Reserve reiterating its dovish stance on the pace of its rate hikes in the release recently of its latest policy meeting minutes.
The 225-issue Nikkei Stock Average added 34.48 points, or 0.22 percent, from Wednesday to end the day at 15,749.84, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 4.89 points, or 0.39 percent, to close at 1,272.64.
Notable advancers by the close of play comprised pharmaceutical, oil and coal products and mining-linked stocks, with the day's turnover totaling 2,089.8 billion yen (19.14 billion U.S. dollars).
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