The Nikkei 225 Thursday moved forward 0.47%, as traders mulled overnight Wall Street gains and a stronger U.S. dollar, the latter regarded as a positive in export-oriented Japan.

In other news, international hedge funds are taking futures positions in Japanese stocks, betting on a Prime Minister Shinzo Abe win in Japan’s pending snap election, now slated for late October. Non-Japanese offshore buyers acquired net $19 billion of Japanese stock futures from Sept. 11 to Sept. 22, according to data released by the Osaka Exchange, which handles futures in Japan.

Also, Bank of Japan Governor Haruhiko Kuroda Thursday said Japan’s economic expansion is broadening and will be sustainable.

The benchmark Nikkei 225 rose 96.06 to 29,363.11, as gaining issues outnumbered losers 162 to 57.

Leading the upside were chemical concerns Tokai Carbon (TKCBY, 5301:Tokyo), up 14.9% and Showa Denko (SHWDY, 4004:Tokyo), up 7.5%. To meet U.S. antitrust rules, Showa Denko will sell certain U.S operations to Tokai Carbon, as part o its buyout of European chemical giant SGL GE Holding GmbH. Also up was FamilyMart UNY (FYRTY, 8028:Tokyo), up 7.3%.

On the downside were Kansai Electric Power (KAEPF, 9508:Tokyo), off 5.3%; and then Pacific Metals (5541:Tokyo) off 4.4%.


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