Japan shares rise as central bank adheres to ultra-loose monetary policy

Japanese stocks rose on Thursday after the Bank of Japan renewed its commitment to ultra-accommodative monetary policy and investors were relieved that no surprises would negatively affect the stock market.

The Nikkei index rose 1.75 percent at the close, recording 26,847.90 points, the largest daily increase since April 13, after falling earlier in the session.

The broader Topix index jumped 2.09%, the highest increase since March 23, to record 1,899.62 points.

Toyota Motor shares rose 3.23 percent, and it was one of the largest stocks that supported the Topix index, with the yen falling to its lowest level in 20 years against the dollar.

Advantest Corp., a maker of chip-making equipment, jumped 4.29 percent and was the Nikkei’s biggest supporter.

The 1.34 percent drop in shares of Fast Retailing, operator of clothing store Uniqlo, was the biggest pressure on the Nikkei.