Nikkei rises for 5th day on weak yen, MSCI index review drive volumes
TOKYO May 31 (Reuters) - Japanese stocks rose for a fifth straight day on Tuesday as growing expectations of an imminent U.S. interest rate hike helped the dollar hold onto recent gains against the yen, supporting exporter shares.
Turnover on the broader market hit a more than one month high. Analysts say U.S. index provider MSCI's review of the component stocks of some of its indexes, which include Japanese counters, led to increased trading activity of such stocks.
The Nikkei share average rose 1.0 percent to 17,234.98.
The broader Topix gained 1.0 percent to 1,379.80. Turnover was 2.874 trillion yen, the highest level since April 28.
The JPX-Nikkei Index 400 advanced 1.0 percent at 12,453.26. (Reporting by Ayai Tomisawa; Editing by Sam Holmes)
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