The Nikkei Rise To Highest Level In 1 Week, High Dashed Oil Stocks

The Nikkei Rise To Highest Level In 1 Week, High Dashed Oil Stocks - Nikkei stock index rose for a third day to the highest level in more than a week on Thursday after Wall Street rally behind the strong oil prices, although investors remained cautious ahead of the Federal Reserve's decision on tonight.

The Nikkei index rose by 1.4% to 18,423.63 by the midday trading session.

Analysts said that trading volume may be sluggish because investors do not want to take big positions before the Fed decision known.

Analyst of Daiwa Securities said that currently there is no one who wants to be left out of the Fed's decision which can not be predicted today.

The Fed will announce a decision on tonight as to whether they would stop or extend the period of interest rates in the range of zero percent that has been going on for seven years.

Traders also said that at a time when the market looked nervous against a rise in interest rates, they are quite sure that if the Fed Raise interest rates in the near future, the level of frequency of further interest rate hikes will be moderate walk.

Oil company shares jumped nearly 6% in response to rising oil prices. Shares of the company Inpex Corp. gained 2.8% and Japan Petroleum Exploration shares jumped 3.6%.

The company's shares Exporters also gained as stock Honda Motor Co. which rose 3.4%, shares of Advantest Corp., which jumped 3.2% and TDK Corp. shares rally 3.6%.