Japan's Nikkei rises as oil prices ease

Tokyo: Japan's Nikkei index rose on Thursday as investors bought shares of gaming and pharmaceutical companies whose prices had fallen sharply, while lower crude oil prices and the largely expected monetary policy decision by the US Federal Reserve supported market sentiment.

The Nikkei index closed 0.3% high at 64,136.25, while the broader Topix index gained 0.8% to 4,094.19. Chip-sector heavyweights Advantest and Tokyo Electron were the biggest drags in the Nikkei, falling 1.5% and 1.4%, respectively.

However, some AI-related stocks bucked the trend, with SoftBank Group rising 1% and cable maker Fujikura adding 0.6%. Investors also turned to gaming and pharmaceutical sector stocks, which had lagged the broader market, leading Nintendo shares to rise 4.3% and Bandai Namco shares to gain 3.4%. Sumitomo Pharma shares jumped 5.3%, making it the biggest percentage gainer on the Nikkei index.

Shares of oil-related companies declined as crude prices fell, with Inpex shares dropping 3.2%.