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The Nikkei Share average index advanced and closed up 0.2 percent to 19,633.75, its highest closing level since December 2015 as investors bought defensive shares while exporter stocks lost footing due to the strong yen.

The broader Topix also closed up 0.2 percent to 1,577.40, also its 15-month high.

Despite the advance in benchmark indexes, trading activity was subdued ahead of global developments expected later this week. Trading volume on the main board was at its lowest so far this 2017, with 1.47 trillion yen exchanging hands.

According to analysts, Japanese stocks continue to perform well despite its strong gains in the prior sessions. But the anticipated Fed meeting, in which the U.S. central bank is highly-anticipated to hike rates along with the weak yen are causing participants wary of taking higher positions in domestic stocks. At the end of morning session, 17 out of Tokyo’s 33 subindexes were in the negative.

During the session, Toshiba Tec rallied up to 5.7% while Toshiba rose 3.7% at midday after a report by Nikkei business daily implying the possible sale of the cash register systems maker unit.

The material has been provided by InstaForex Company – www.instaforex.com

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