Stocks in Tokyo bucked an otherwise downward trend in Asia on Thursday amid nerves ahead of the Federal Reserve's monetary policy decision later today.

The benchmark Nikkei 225 index closed up 35 points at 8,995 in Tokyo as bargain hunters moved in on recently sold off stocks. The index has earlier struggled for direction in lighter than usual trading as investors mulled the upcoming Fed meeting. Investors also cheered Germany's high court approval on the Eurozone permanent bailout facility.

The broader Topix rose 0.3%. The Hang Seng retreated 54 points at 20,020 while China's Shanghai Composite fell 0.5%.

Investors widely anticipate that the central bank will announce another round of stimulus to stimulate growth in the world's biggest economy.

Technology stocks found firm footing after Apple heralded its iPhone 5 in the US. Shares of Sharp rose 1% on reports that the electronic giant had started shipments of for iPhone 5's display screens. Sony and Panasonic also bagged gains.

Games giant Nintendo rallied 3% before details of its new Wii U gaming device are unveiled later today.

Buyers sought shippers such as Mitsui OSK after the sector's recent sell-off. Nippon Yusen KK was up as much as 6% while Kawasaki Kisen Kaisha bounced 6.4% in Tokyo.

Steel makers also gained with Nippon Steel gaining 1.8% in Thursday's session.

Property firms were sought after in Hong Kong with shares of China Resources Land up 2.3% while Agile Property tacked on 3.5%.

In Australia, retail giant Myer was little changed after it reported a decline in full year profit and cautioned that the outlook for the retail environment remained uncertain.

In economic news South Korea outlined fresh stimulus plans in an attempt to revive economic growth.



CJ

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