The Nikkei Stock Average rose 213.25 points, or about 0.3%, to close at 64,136.25 on the Tokyo stock market on the 17th, extending its advance despite declines in all three major U.S. stock indexes. The Federal Open Market Committee (FOMC), the U.S. central bank’s rate-setting panel, had delivered its first rate hike in three years, while Fed Chair Warsh signaled a hawkish stance. Because the move had largely been priced in, the yen’s depreciation against the dollar helped drive broad-based buying and pushed the Tokyo market more than 700 yen higher at the open. Gains later narrowed as semiconductor stocks turned lower, and the index briefly fell into negative territory in the afternoon. Strong market breadth provided support, with advancing issues accounting for 82.9% of the Prime Market and more than 1,000 stocks rising. Trading value was approximately ¥7.15 trillion, or about $45.9 billion, on volume of 1.95662 billion shares. Shipping, other products and pharmaceuticals gained, while mining, nonferrous metals and securities/commodity futures declined. Mitsubishi Heavy Industries surged after announcing a capital and business alliance with Preferred Networks, while gaming, entertainment, SaaS and drone-related shares attracted buying. Semiconductor and electronic-component stocks weakened, INPEX fell more than 3% as crude oil’s rise paused, and securities companies were sold. Skyfall closed below its opening price after debuting above its IPO price. The Nikkei finished above its five-day moving average of 63,809. Attention now turns to the Bank of Japan’s monetary policy decision on the 18th, which the market widely expects to include a rate hike, and Governor Kazuo Ueda’s post-close press conference. Position adjustments before the decision and a holiday closure from Monday through Wednesday next week could increase volatility, although some participants expect declines to draw dip-buying. The ability to close the week above both the five-day and 26-week moving averages, at 63,809 and 63,825, respectively, is a key technical focus.