TOKYO: Tokyo stocks closed slightly lower on Wednesday as investors await the end of a policy meeting at the Federal Reserve and the release of key data.
The benchmark Nikkei 225 index slipped 0.16 percent, or 35.25 points, to 22,472.78, while the broader Topix index edged down 0.15 percent, or 2.66 points, to 1,771.52.
Overall, trading was slow with Tokyo financial markets closed for the rest of the week, having been shut Monday for holidays.
“Few people want to move before markets go into consecutive holidays… especially before an important US event and data,” said Seiichi Suzuki, senior market analyst at Tokai Tokyo Research Institute.
The Federal Reserve is to issue a statement after it concludes a two-day policy meeting on Wednesday, with US service sector data due out Thursday to be followed the next day by the monthly jobs report.
Investors “do not expect bad news but those who had bought (since lows in February) want to adjust positions before the holidays”, Suzuki told AFP.
The dollar was at 109.81 yen, down from 109.87 yen in New York Tuesday.
Fujifilm Holdings plunged 5.45 percent to 4,123 yen after Xerox said its chief executive Jeffrey Jacobson and six other directors would resign from its board to settle a lawsuit brought by activist shareholders opposed a takeover by the Japanese firm.
Carmakers dropped despite recent yen weakness, after they announced falls in US sales for April.
Honda shed 2.38 percent to 3,641 yen while Nissan lost 2.08 percent to 1,127.5 yen.
Japan Tobacco jumped 5.70 percent to 3,050 yen after releasing a forecast-beating first-quarter profit.
Source: Brecorder
