Japanese Stocks Fall Second Day as Yen Holds Gain Before BOJ

Japanese stocks fell, with the Topix (TPX) index heading for a second straight daily drop, as the yen traded near a seven-week high versus the dollar before the central bank concludes a policy meeting.

The Topix dropped 0.5 percent to 1,149.44 as of 9:03 a.m. in Tokyo. The Nikkei 225 Stock Average declined 0.2 percent to 13,798.56 after yesterday capping its biggest fall since June 13.

The Bank of Japan will maintain its asset-purchasing program at a two-day meeting that finishes today, according to economists surveyed by Bloomberg. The Topix rose 34 percent this year as of yesterday, the biggest gain among developed markets, amid optimism that the BOJ’s stimulus and Prime Minister Shinzo Abe’s reforms will boost growth.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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