Japan’s Topix fell, erasing an early advance, as investors awaited the outcome of the Bank of Japan’s policy meeting after the U.S. Federal Reserve cut interest rates.
Banks and automakers contributed most to the benchmark’s late-morning dip. The BOJ is likely to save its limited policy ammunition for a clearer deterioration of economic conditions, according to economists surveyed by Bloomberg. Fed officials reduced interest rates by a quarter-percentage point for the third time this year and signaled a pause in further cuts unless the economic outlook changes materially.
Topix index -0.3% to 1,661.27 as of midday break in Tokyo vs +0.2% earlier. Nikkei 225 index +0.2% to 22,887.06.
Source : Bloomberg