Japanese
stocks swung between gains and losses as investors awaited a rush of
company earnings and policy updates from the Federal Reserve and the
Bank of Japan later this week. Steelmakers fell and retailers led gains.
The
Topix index slipped 0.1 percent to 1,558.01 as of 9:04 a.m. in Tokyo,
swinging from a gain of less than 0.1 percent. The Nikkei 225 Stock
Average was little changed at 18,940.20. The yen traded at 120.93 per
dollar, strengthening for a second day.
The
Fed announces its rate decision on Wednesday, with futures traders
pricing in just a 6 percent possibility of an increase. Expectation are
higher for action in Japan when the BOJ meets on Friday, with 16 of 36
analysts surveyed by Bloomberg forecasting the central bank will bolster
monetary policy.
Friday
also marks the busiest day of the Japanese earnings season, with more
than 300 companies expected to file results, including NTT Docomo Inc.
and Japan Airlines Co. Companies reporting Tuesday after the close
include robot-maker Fanuc Corp. and camera-maker Canon Inc.
E-mini
futures on the Standard & Poor’s 500 Index were little changed
after the underlying gauge slipped 0.2 percent on Monday following four
weeks of gains. The index is on track for its best month since 2011
after surging 11 percent from its August low.
Source:Bloomberg
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