Nikkei rises to 2-1/2-week high as fading US rate views buoy appetite
* One of two big risks has faded after Fed's decision - analyst
* TPP agreement helps mood though short-term effect seen limited
* Commodity stocks lead gains
By Ayai Tomisawa
TOKYO, Oct 6 (Reuters) - Japan's Nikkei share average rose to a 2-1/2-week high on Tuesday as expectations that the U.S. Federal Reserve will wait longer to raise interest buoyed investors' risk appetites.
Also lifting the mood was news that 12 Pacific Rim countries had reached the most ambitious trade pact in a generation.
While markets had expected on Monday that a TPP trade deal would be clinched, the long-term effect on the Japanese economy was seen as positive.
The Nikkei gained 1.6 percent to 18,301.14 points by mid-morning after rising as high as 18,372.72, the highest since Sept. 17.
Investors had been jittery amid fears of sharper Chinese economic slowdown and a possible U.S. interest rate hike this year. But they have returned to riskier assets after a weak U.S. jobs report on Friday prompted speculation the Fed will wait longer to start normalizing rates. Continuación...