Nikkei jumps 2% as investors confident ahead of Fed decision

The Nikkei share average jumped 2 per cent to a one-week closing high on Wednesday, as hedge funds bet the outcome of the U.S. Federal Reserve's policy meeting would not materially alter a promising outlook for Japanese equities.

The Nikkei gained 309.17 points to 15,587.80, its highest close since December 10. It marked its biggest daily percentage gain since December 9.

The Topix gained 1.5 per cent to 1,250.49, with 32 of its 33 subsectors in positive territory.

Traders said that event-driven funds bought futures and large-cap stocks on the assumption that the U.S. market would rise after the Fed's policy-setting meeting regardless of the outcome.

Copyright: Thomson Reuters 2013