Japan stocks rise after the central governor’s remarks

Japanese stocks rose for the third consecutive session on Tuesday after moderate comments from the Governor of the New Bank of Japan, as well as strong economic indicators from the United States that boosted investor confidence.

The Nikkei index rose 1.05 percent to close at 27,923.37 points, its highest daily increase since March 29. The broader Topix index rose 0.78 percent to 1,991.85 points.

Kazuo Ueda, Governor of the Bank of Japan, said in his first press conference on Monday that it was right to maintain the bank’s ultra-loose monetary policy for now.

Sentiment was further boosted after the Nikkei newspaper reported that billionaire investor Warren Buffett plans to increase his investment in Japan.

Chip maker Tokyo Electron jumped 3.69 percent, following in the footsteps of its Wall Street peers and leading gainers on the Nikkei index.

The sub-index of technology companies rose 1.75 percent, and Advantest Corp., Japan’s largest maker of semiconductor testing equipment, rose 1.98 percent.

Japan Display, which supplies Apple, rose 4.35 percent, its second straight day of gains.

The yen fell 1.1 percent on Monday, the biggest decline since March 29, in the wake of Ueda’s comments, which gave a boost to shares of issuers on the Tokyo Stock Exchange. Mazda Motor Corp and Nissan Motor both rose more than 2 percent.