Tokyo stocks close slightly down ahead of Fed decision

Tokyo’s key Nikkei index closed marginally lower on Wednesday, with investors adopting a wait-and-see attitude ahead of a major policy decision by the US Federal Reserve, AFP reported.
The benchmark Nikkei 225 index dipped 0.06 percent, or 15.53 points, to 27,663.39, while the broader Topix index edged up 0.10 percent, or 1.96 points, to 1,940.46.
The dollar stood at 147.48 yen, against 148.23 yen in New York on Tuesday.
The Federal Reserve will conclude its latest policy meeting later in the day, with traders hoping for a hint from officials that they are ready to temper the speed of monetary tightening.
With the Fed decision in the offing, investors were inclined to wait and see, while others “gravitated toward profit-taking”, Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.
But despite the nervousness surrounding the Fed meeting, the Tokyo market was bolstered by gains linked to blue-chip stocks.
Sony Group rocketed 7.01 percent to 10,755 after the conglomerate on Tuesday raised its annual net profit and sales forecasts, citing the weak yen.
“Japanese companies are actually doing well in their earnings results thanks to a boon from the cheaper yen, which is discouraging investors from selling too much”, Horiuchi said.
Among major shares in Tokyo, SoftBank Group gained 1.99 percent to 6,705 yen, Toyota was down 0.24 percent to 2,014 yen and Uniqlo operator Fast Retailing fell 0.12 percent to 82,950 yen.