Tokyo: Japanese shares bounced off a one-week low on Wednesday supported by news that Japan will retain its status as the only developed market in the region in MSCI stock indexes, checking any potential knee-jerk rotation out of Tokyo equities.
MSCI announced that it was removing South Korea and Taiwan from its review list for reclassification to developed markets.
The Nikkei gained 0.5 percent to 15,069.48.
The broader Topix added 0.8 percent to 1,239.07, while the new JPX-Nikkei Index 400 advanced 0.8 percent to 11,280.65.
Volume was subdued, with only 1.79 billion shares changing hands on the Tokyo stock exchange`s main board as foreign investors stayed on the sidelines before the Bank of Japan`s two-day policy meeting starting Thursday.
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