Japan Stocks Fall as Investors Watch Greece, Await Fed

Japanese stocks fell, with shippers and energy stocks leading declines, as investors await an update from the Federal Reserve on U.S. monetary policy and a meeting of euro-area finance ministers with Greece.

The Topix index lost 0.4 percent to 1,645.58 as of 9:01 a.m. in Tokyo, with all but two of its 33 industry groups dropping. The Nikkei 225 Stock Average slipped 0.4 percent to 20,316.19.

The Federal Reserve begins a two-day meeting Tuesday, at which officials are expected to leave interest rates unchanged. Improving economic reports since the central bank’s last session have pushed the probability for a September increase to 53 percent, data compiled by Bloomberg show. Japan policy makers are also reviewing borrowing costs this week, with central bank governor Haruhiko Kuroda scheduled to attend a parliament session Tuesday.

Source : Bloomberg

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