* Some tech shares recover
* Toshiba tumbles on report it may miss financial filing
By Ayai Tomisawa
TOKYO, June 14 Japan's Nikkei share average rose
on Wednesday morning tracking overnight gains on Wall Street,
but activity was subdued ahead of the Federal Reserve's monetary
The Nikkei rose 0.3 percent to 19,953.33 in
The index is expected to be confined to a narrow range ahead
of the Fed's two-day policy meeting that ends on Wednesday, at
which the U.S. central bank is expected to raise interest rates.
"The market is waiting for a clue. While there is another
hike expected this year (after the June hike), a recent run of
soft inflation data has made the market wonder if the Fed will
go for it," said Masaru Hamasaki, head of market & investment
information department at Amundi Japan.
The U.S central bank is scheduled to release its decision at
2 p.m EDT (1800 GMT) with a news conference to follow from Fed
Chair Janet Yellen.
Economists polled by Reuters overwhelmingly see the U.S.
central bank hiking its benchmark rate to a target range of 1 to
1.25 percent this week, though expectations for further rate
increases are fading.
Some tech shares rebounded as U.S. technology stocks bounced
back overnight. Kyocera Corp surged 3.2 percent and TDK
Corp gained 1.1 percent.
Ono Pharmaceutical Co jumped 5.4 percent and
recorded the second highest turnover after the company said it
will repurchase up to 20 million shares, representing 3.8
percent of outstanding. It also said it plans to retire up to 50
million shares of its common stock, including repurchased shares
between June 14 and Sept. 29, retirement date on Oct. 31.
Conversely, Toshiba Corp stumbled five percent
partly on profit-taking, while sentiment was soured by a
Mainichi Shimbun report that the company will delay filing of
its annual financial report which is due the end of the month.
The broader Topix was flat at 1,593.68 and the
JPX-Nikkei Index 400 was also flat at 14,186.41.
(Editing by Vyas Mohan)