Nikkei rises as MSCI review supports sentiment, eyes on BOJ meeting

Wed Jun 11, 2014 2:27am EDT

TOKYO, June 11 (Reuters) - 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.

 (Reporting by Ayai Tomisawa; Editing by Richard Borsuk)
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