Japanese stocks were down today (September 16th) as investors traded cautiously ahead of this week's Federal Reserve meeting.
Stocks ended a five-day winning streak following the weekend, with the Tokyo Stock Exchange being closed yesterday for Respect for the Elderly Day.
The Fed's Open Market Committee (FOMC) two-day policy meeting begins later today, and global markets are looking for signs of a possible US rate hike.
"People are watching if the outcome of the FOMC will trigger profit-taking because the market has priced in expectations that the Fed is on course to raise US interest rates," Hikaru Sato, a senior technical analyst at Daiwa Securities, told Reuters. "It will depend on what Yellen says but her comments could trigger unwinding of yen selling."
The Nikkei 225 average ended down 36.76 points at 15,911.53, while the Topix fell 2.86 points to close at 1,310.86.
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