Nikkei shares slip before BOJ decision

Dhaka,  Monday,   2016-09-21
Published : 21 Sep 2016, 11:14:25

Nikkei shares slip before BOJ decision

Nikkei shares slip before BOJ decision
Japan's Nikkei share index fell on Wednesday morning, dragged down by selling in banking and insurance stocks as investors braced for the outcome of the Bank Of Japan's policy meeting.

By 0150 GMT the Nikkei had dropped 0.5 per cent to 16,405.47.

The BOJ is expected to make negative interest rates the centrepiece of a new policy framework.

Banks and insurers were sold, with Mitsubishi UFJ Financial Group falling 1.2 per cent, Mizuho Financial Group shedding 0.7 per cent and Dai-ichi Life Insurance Co dropping 2.1 per cent.

On the other hand, real estate stocks outperformed. Mitsui Fudosan Co gained 1.4 per cent and Sumitomo Realty & Development Co rose 1.0 per cent.

Exporters were mixed, with Toyota Motor Corp falling 0.4 per cent, Honda Motor Co rising 0.6 per cent and Panasonic Corp dropping 0.3 per cent.

The broader Topix shed 0.5 per cent to 1,310.75 and the JPX-Nikkei Index 400 declined 0.5 per cent to 11,757.04, according to a news agency report.

-SRS-
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