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Tokyo Stocks Close Monday with Moderate Gains
(MENAFN) Tokyo equities closed marginally higher on Monday, with traders largely holding back ahead of the U.S. Federal Reserve’s upcoming two-day policy meeting.
The 225-issue Nikkei Stock Average added 90.07 points, or 0.18 percent, to finish at 50,581.94. The broader Topix advanced 21.75 points, or 0.65 percent, ending the session at 3,384.31.
Analysts said the U.S. Federal Reserve’s widely anticipated interest-rate cut kept the benchmark Nikkei in tight, indecisive trade throughout the day, as investors avoided major positions until policymakers signal their next move.
At the same time, growing speculation that the Bank of Japan may lift rates at its own policy meeting later in the month added another layer of caution to the market.
The 225-issue Nikkei Stock Average added 90.07 points, or 0.18 percent, to finish at 50,581.94. The broader Topix advanced 21.75 points, or 0.65 percent, ending the session at 3,384.31.
Analysts said the U.S. Federal Reserve’s widely anticipated interest-rate cut kept the benchmark Nikkei in tight, indecisive trade throughout the day, as investors avoided major positions until policymakers signal their next move.
At the same time, growing speculation that the Bank of Japan may lift rates at its own policy meeting later in the month added another layer of caution to the market.
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