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Nikkei hits 1-wk high on Fed outlook; volume highest since late Sept

Wednesday, 30 Oct 2013 | 2:10 AM ET

TOKYO, Oct 30 (Reuters) - Japanese shares climbed to a one-week high on Wednesday on expectations that the U.S. Federal Reserve will maintain its ultra-easy money policy for at least the next few months.

The yen's retreat also helped to boost exporters' shares, as concerns that the yen might strengthen further have been one major reason behind Japanese shares' underperformance in recent weeks.

The benchmark Nikkei rose 1.2 percent to 14,502.35, the highest closing level since Oct. 22. The broader Topix added 0.9 percent to 1,204.50, with trading volume hitting a 5-1/2-week high of 3.11 billion shares.