Monday, August 29, 2011

Nikkei edges up on Fed stimulus prospects, Japan vote eyed

TOKYO: The Nikkei benchmark edged up on Monday after U.S. stocks gained when Federal Reserve Chairman Ben Bernanke raised hopes for more stimulus for the economy, but trading volume may be subdued ahead of a ruling party leadership election in Japan and major U.S. economic indicators coming out later this week.

Japan's ruling Democratic Party holds a leadership vote on Monday, and analysts said investors may stay on the sidelines before the result is known in the afternoon.

The benchmark Nikkei rose 0.2 percent to 8,814.33, while the broader Topix index gained 0.2 percent to 757.94. ' Reuters

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