Nikkei rises, Tepco shines; trading subdued ahead of Fed meeting
TOKYO, Oct 27 (Reuters) - Japanese stocks rose on Monday to a 2-1/2 week high as upbeat U.S. data and a weaker yen lifted sentiment in the overall market, but volume was thin as investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting this week. The Nikkei share index ended 0.6 percent higher at 15,388.72, the highest closing level since Oct. 9. But only a total of 1.81 billion shares changed hands on the broader Topix, the lowest since Sept. 8. The Topix added 1.0 percent to 1,254.28, while the JPX-Nikkei Index 400 gained 0.9 percent to 11,415.63. Tokyo Electric Power Co (Tepco) soared 17 percent after the Nikkei reported that it will likely post a pre-tax profit of 125 billion yen for the year through March, up from 43.2 billion yen last fiscal year. Tepco was the third-most traded stock by turnover, with 148 million shares changing hands, about 20 times more than last week's average daily volume. (Reporting by Ayai Tomisawa; Editing by Simon Cameron-Moore)
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