Tokyo stocks end mixed before outcome of Fed, BOJ policy meetings

The Mainichi

5 days ago

TOKYO (Kyodo) -- Tokyo stocks ended mixed after directionless trading Wednesday as investors awaited the outcome of monetary policy meetings being held in the United States and Japan.
The 225-issue Nikkei Stock Average fell 19.85 points, or 0.05 percent, from Tuesday to 40,654.70. The broader Topix index finished 11.54 points, or 0.40 percent, higher at 2,920.18.
On the top-tier Prime Market, gainers were led by nonferrous metal and textile and apparel issues, while air transportation and service shares were the main decliners.
The U.S. dollar weakened to the upper 147 yen range in Tokyo after U.S. Treasury yields declined ahead of the outcome of the Federal Reserve policy meeting.
On the stock market, investors refrained from trading actively as they waited for clues about further interest rate increases from the Bank of Japan, although it is widely expected to keep intact the benchmark rate this time, brokers said.
"Market participants are paying close attention to possible remarks (from the BOJ chief) about an additional rate hike within the year" following a Japan-U.S. trade deal reached last week, said Yuta Okamoto, market analyst at Tokai Tokyo Intelligence Laboratory Co.
The Nikkei benchmark dropped for the fourth straight trading day as heavyweight Advantest erased earlier gains and ended lower as investors locked in gains after the chip testing equipment maker released Tuesday solid earnings for the April-June period.
Meanwhile, the market was supported by bargain-hunting after the Nikkei index lost more than 1,100 points over the past three trading days.