Japan Stocks Edge Up As Investors Await Fed

TOKYO (AP) — Japanese stocks rose modestly Wednesday, nudged higher by an improving U.S. auto market and record high gold prices.

The benchmark Nikkei 225 stock average added 41.36 points, or 0.4 percent, to 9,844.31 after Japan's financial markets were closed Tuesday for a national holiday. The broader Topix index added 0.1 percent to 881.27.

Trade was largely directionless as investors awaited comments by U.S. Federal Reserve after it wraps a two-day policy meeting later Wednesday.

Carmakers advanced after a new report overnight showed signs of stability in the U.S. auto industry in October. Total sales of cars and light trucks were up 12 percent from a dismal September 2009, Autodata Corp. reported Tuesday.

Shares of Toyota Motor Corp. rose 1.1 percent to 3,610 yen amid media speculation that the company would raise its global sales target to 7 million vehicles. The company was also expected to announce later Wednesday that it would withdraw from Formula One racing to cut costs.

Honda Motor Co. added 1.4 percent to 2,860 yen, and Nissan Motor Co. closed up 1.7 percent at 661 yen.