The Bank of Japans raised the overnight call rate to a range of 0 to 0.1%, up from minus 0.1%, citing wage increases and other indicators suggested that inflation had stabilized above the BOJ's 2% target, but noted extremely high uncertainties, including weakness in industrial production, exports, housing investment and government spending.
The 225-issue Nikkei Stock Average index advanced 263.16 points, or 0.66%, to finish at 40,003.60. The broader Topix index of all First Section issues on the Tokyo Stock Exchange climbed up 28.98 points, 1.06%, to 2,750.97.
Shares of exporters gained strongly, thanks to yen depreciation to mid-150 level against greenback which likely boosts their overseas profits. Toyota Corp surged 3.02% to 3,675 yen. SoftBank Group gained 0.35% to 8,821 yen, Sony Group added 0.97% to 13,460 yen and Nissan edged up 0.06% to 605.7 yen.
CURRENCY NEWS: Japanese yen fetched 150.31 per US dollar compared with 149.16 per US dollar in Tokyo on MOnday.
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