Nikkei 225 Falls for Fourth Day Ahead of Fed; Nissan ADRs Gain
Japan’s Nikkei 225 fell for a fourth day as investors were cautious ahead of both Federal Reserve and Bank of Japan monetary policy decisions. A drop in US semiconductor stocks also dragged on the market.
Nikkei declined 0.2% to 39,275.88 as of 9:07 a.m. Tokyo time
The Topix Index little changed at 2,726.90
Out of 2,126 stocks in the index, 819 rose and 1,132 fell, while 175 were unchanged
Should the market start to reduce expectations for Fed rate cuts into next year, it’s difficult to predict how US stocks will react, and this is weighing on Japanese equities, said Mitsushige Akino, president of Ichiyoshi Asset Management.
Nissan Motor and Honda Motor ADRs rose on news they’re exploring a potential merger, according to people familiar with the matter, which would better position a combined company to face global competitive challenges.
Source : Bloomberg
