Japan Stocks Fluctuate as Yen Climbs Before BOJ Policy Decision

Shares in Tokyo swung between gains and losses, with iron and steel producers falling while financial stocks rose, as the yen advanced before the Bank of Japan’s decision on adding to stimulus.

The Topix index fell 0.1 percent to 1,306.31 as of 9:12 a.m. in Tokyo after rising as much as 0.2 percent. The Nikkei 225 Stock Average was little changed. The yen added 0.5 percent to 104.74 per dollar. The BOJ makes its call on monetary policy Friday in one of the most highly anticipated announcements in recent months.

Any decision is likely to move the markets, with the big question being whether governor Haruhiko Kuroda will opt for more stimulus or disappoint. An overwhelming majority of economists surveyed by Bloomberg expects the central bank to add to its record easing program.

Source: Bloomberg

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Japanese Stocks Fall as Yen Climbs Before BOJ Policy Decision

Shares in Tokyo fell as the yen advanced before the Bank of Japan’s decision on adding to stimulus, with carmakers dragging the benchmark equity gauge lower.

The Topix index fell 0.4 percent to 1,301.98 at the trading break in Tokyo after rising as much as 0.2 percent. The Nikkei 225 Stock Average sank 0.4 percent. The yen added 1.2 percent to 104.05 per dollar. The BOJ makes its call on monetary policy Friday in one of the most highly anticipated announcements in recent months.

Any decision is likely to move markets, with the big question being whether governor Haruhiko Kuroda will opt for more stimulus or disappoint. An overwhelming majority of economists surveyed by Bloomberg expects the central bank to add to its record easing program.

A Kyodo News report on Wednesday cited Abe as saying that a stimulus package of more than 28 trillion yen ($ 267 billion) would be compiled next week. On the same day, a Nikkei newspaper report on monetary easing said BOJ officials were considering cutting interest rates further into negative territory, expanding government bond buying beyond 80 trillion yen annually and boosting purchases of other assets such as exchange-traded funds.

Source: Bloomberg

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