DHAKA: Stocks in Japan ended a four-day losing streak and closed higher, despite shares in the US and Europe falling sharply on Tuesday on worries over the UK’s referendum on EU membership.

Japan’s benchmark Nikkei 225 index closed up 60.58 points, or 0.4%, at 15,919.58, reports the BBC.

The rise came amid the Bank of Japan’s two-day policy meeting, which will finish on Thursday.

However, analysts are not expecting major action by the central bank.

Shares in the US and Europe dropped sharply on Tuesday as polls indicated rising support for the Leave campaign in the UK’s upcoming EU referendum.

Some analysts have said leaving the political and economic union could harm the UK’s economy, although the effects would not be immediate.

‘The economic impact would occur over months and years, not immediately,’ London-based analyst Michael Metcalfe said.

‘But financial markets are constantly trying to look forward and discount what’s going to happen.’

In Australia, the S&P/ASX 200 index finished the session down 1.1% at 5,147.1, dragged down by commodity-related stocks.

South Korean shares were also down, with the benchmark Kospi index finishing 0.2% lower at 1,968.83.

BDST: 1352 HRS, JUN 15, 2016
RR