"Investors are keeping an eye on the yen and bargain hunting"
- Naoki Fujiwara, a fund manager at Shinkin Asset Management Co.
Japanese stocks rose on Wednesday, led by carmakers including Toyota Motor Corp. Toyota edged higher 1.8 per cent to 3,380 yen. Nissan Motor Co., Japan's third-biggest carmaker by market value, gained 2.3 per cent to 814 yen.
The Nikkei 225 rose 0.96%, or 90.98 points, to 9,554.00. The broader Topix advanced 1.12%, or 9.11, to 825.40.
"Investors are keeping an eye on the yen and bargain hunting," said Naoki Fujiwara, a fund manager at Shinkin Asset Management Co. in Tokyo.
"Investors are [also] spreading their purchases to defensive stocks [stocks of companies that are less sensitive to fluctuations in economic activity] after focusing on sensitive stocks. That's supporting the markets."
© Dukascopy Bank