On Tuesday, Japan’s Nikkei share fell averagely as investors became cautious ahead of important global central banks’ interest rate announcements, including Japan, with heavyweight’s technology firms leading at the losses. By 0205 GMT, the Japan Nikkei was down 0.22%, while the broader Topix was up by 0.14%. Trading head at Philip Securities Japan mentioned that …
On Tuesday, Japan’s Nikkei share fell averagely as investors became cautious ahead of important global central banks’ interest rate announcements, including Japan, with heavyweight’s technology firms leading at the losses. By 0205 GMT, the Japan Nikkei was down 0.22%, while the broader Topix was up by 0.14%.
Trading head at Philip Securities Japan mentioned that the decline should not be taken seriously. However, market players were not actively making bets ahead of the central banks’ decisions in Japan, the U.S. and Europe. He also mentioned that though the market’s general expectations are that Bank of Japan will maintain its current monetary policy, but the outcome might come out of a surprise to be the opposite. Hence, it is difficult to make a move during the earnings season.
As of 0200 GMT, the trading value on the Tokyo Stock Exchange’s premier market was approximately 1.4 trillion yen, compared to the 30-day average of 3.6 trillion yen. The Bank of Japan will host a two-day policy meeting beginning on Thursday. It is largely assumed that the bank will maintain its ultra-low interest rate policy. The Fed is likely to hike interest rate by 25 basis point at its policy meeting on Wednesday.
Tokyo Electron, a chip-making equipment manufacturer declined by 1.21% while Nidec, the developer of electric motors fell by 3% to become the Nikkei’s poorest performer. Seven & I gained 0.84% after local media reported the convenience store operator has struck a deal to sell its department store operations to U.S. investment fund Fortress Investment Group as early as in September, putting an end to stalling negotiations with locals in the area where the flagship shop will close.
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