Japanese Stocks Fall as Yen Gains on Fed, Investors Await BOJ
- Banks biggest drag on the Topix; Fed maintains policy stance
- Decline follows Wednesday’s report on Abe stimulus package
Will BOJ Watchers' Wait be Worth it?
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Shares in Tokyo fell, with banks slumping before the Bank of Japan’s decision on monetary stimulus on Friday, as the yen strengthened after the Federal Reserve kept interest rates unchanged.
The Topix index declined 1.1 percent to 1,307 at the close in Tokyo, with all but two of its 33 industry groups retreating. The Nikkei 225 Stock Average fell 1.1 percent. The yen added 0.6 percent to 104.82 a dollar after the Fed underscored its gradual approach to tighter monetary policy, casting doubt on officials’ willingness to raise borrowing costs before year-end.