Tokyo stocks fall on caution ahead of Fed meeting outcome-Xinhua

Tokyo stocks fall on caution ahead of Fed meeting outcome

Source: Xinhua

Editor: huaxia

2024-05-01 18:07:15

TOKYO, May 1 (Xinhua) -- Tokyo stocks closed slightly lower on Wednesday as investors took a wait-and-see attitude ahead of the outcome later in the day of the U.S. Federal Reserve's policy meeting.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 131.61 points, or 0.34 percent, from Tuesday at 38,274.05.

The broader Topix index, meanwhile, finished 13.77 points, or 0.50 percent, lower at 2,729.40.

Market watchers here noted that investors began the day selling following an overnight decline on Wall Street, while investors awaited cautiously the Federal Reserve's decision and future guidance on U.S. interest rates.

There were some concerns that Fed Chair Jerome Powell may hint at another interest rate hike in the future after the policy meeting, as recent economic data have demonstrated stubborn inflation, analysts said.