Tokyo shares rebound to close higher

TOKYO: Tokyo stocks closed higher on Wednesday as investors looked ahead to the Federal Reserve’s latest policy decision, hoping for guidance on its plans for interest rates.

The benchmark Nikkei 225 index gained 0.61 percent, or 220.85 points, to 36,286.71, while the broader Topix index rose 0.96 percent, or 24.17 points, to 2,551.10. The market began sharply lower after major US tech firms plunged overnight, IwaiCosmo Securities said.

“However, investors remained eager to pick up bargains, especially main, large-cap shares,” the brokerage said.

Investors were also waiting for clues on future US interest rate movements from the Federal Reserve policy meeting later in the day.