Japanese stocks rose following a global rally as the central bank began a two-day meeting and investors assessed the impact of an historic accord to ease trade in goods and services among a dozen Pacific-rim nations.

The Topix index added 1.4 percent to 1,484.59 as of 9:01 a.m. in Tokyo, rising for a fifth day. The Nikkei 225 Stock Average climbed 1.5 percent to 18,726.19. U.S. stocks staged the longest rally of the year, while a benchmark gauge of equities in Europe jumped to the most since August. The yen traded at 120.47 per dollar as central bank policy officials began deliberations on monetary policy, with an announcement due tomorrow.

Only two of 36 economists forecast the Bank of Japan will expand monetary stimulus Wednesday, according to a Bloomberg News survey conducted last week. Fifteen expected easing at the following meeting on Oct. 30.

Source : Bloomberg