TOKYO: Tokyo stocks opened lower on Tuesday as investors braced for a policy meeting by the US central bank.
The benchmark Nikkei 225 index slipped 0.17% or 36.59 points to 21,547.91 in early trade while the broader Topix index was down by 0.15% or 2.46 points at 1,611.22.
The poor opening came after two days of rises and despite gains on Wall Street.
“Underlying sentiment is not bad ... In the absence of trading pegs at home however, a wait-and-see mood will grow ahead of the result tomorrow of the (US) Fed meeting,“ Okasan Online Securities said in a note.
The Federal Reserve will have another opportunity to weigh in on Wednesday as it wraps up the meeting that is expected to keep interest rates unchanged and could signal fewer rate increases in 2019.
The dollar was trading at 111.39 yen against 111.41 yen in New York Monday afternoon.
Some banks rose after gains for their US counterparts, with Sumitomo Mitsui Financial up 0.52% at 4,009 yen.
Utilities fell as higher oil prices could increase their costs. Tokyo Electric Power lost 1.97% to 694 yen and Tokyo Gas dropped 1.06 percent to 3,086 yen. — AFP
