TOKYO, June 14 (Reuters) - Japanese shares rose on Monday
led by tyre makers and shippers, following the weekend's solid
finish on Wall Street, though gains were capped as investors
remained cautions ahead of the U.S. Federal Reserve's meeting
The Nikkei share average gained 0.37% to 29,055.20
by 0203 GMT, after trimming gains of as much as 0.9% earlier in
the session. The broader Topix rose 0.19% to 1,957.89.
"We do not have any market-moving catalysts in Japan and
most of the markets in Asia are closed. Investors tend to book
profits in such an environment," said Masahiro Ichikawa, chief
market strategist at Sumitomo Mitsui DS Asset Management.
"Investors are also cautious for making active bets ahead of
the Fed's meeting later this week."
U.S. stocks closed modestly higher on Friday, with the S&P
500 hitting a record high closing, while the Nasdaq
gained the most among three major indexes.
Japanese investors are now eyeing the Fed's statement at the
conclusion of this week's two-day monetary policy meeting, which
will be parsed for clues regarding the central bank's timetable
for raising key interest rates.
Tyre makers were the top gainers among the 33
industry subindexes, with Bridgestone up 1.32%,
Yokohama Rubber jumping 2.32% and Toyo Tire
Shipping firms Nippon Yusen rose 1.72% and Mitsui
OSK Lines gained 1.12%.
The interest-sensitive banking sector fell after
U.S. Treasury yields posted their biggest weekly drop
in nearly a year last week. Sumitomo Mitsui Financial Group
fell 0.2% and Mizuho Financial Group lost
Toshiba jumped 2.91% after the conglomerate, which
is facing a deepening crisis over corporate governance, said it
would change its board director nominees for an upcoming
Fanuc, up 2.71 %, was the top gainer among the top
30 core Topix names, followed by Daiichi Sankyo, which
The underperformers among the Topix 30 were Nintendo
, down 2.96%, followed by Itochu losing 2.59%.
(Reporting by Junko Fujita; Editing by Shailesh Kuber)