19.06.201304:32:33UTC+00Japan stocks climb on weaker yen, Fed hopes

Japanese stocks surged on Wednesday as a weaker yen and expectations that the Federal Reserve may not signal a tapering of its bond purchases pulled in buyers and triggered gains across sectors. The Nikkei Stock Average bolster 2.2% to 13,289 and the broader Topix advanced 2.2% to 1,110.38. Shipping stocks led the rally, with utilities, steelmakers and monetaries also posting strong wins. Shares of Kawasaki Kisen Kaisha Ltd. skyrocketed 7.4%, JFE Holdings Inc. spiked 4.9% and Sumitomo Mitsui Financial Group Inc. produced 4% more. Camera manufacturers climbed in the wake of a Nikkei newspaper report that the top eight digital-camera makers are poised to get on the path to recovery, with top firms Canon Inc. and Nikon Corp. anticipating strong profit growth. Canon recorded a 1.9% increase and Nikon traded 1.5% higher.