Japanese stocks fluctuated as investors awaited this week’s decision on U.S. interest rates after data showed China’s fixed asset investment grew at its slowest pace in 15 years. Utilities advanced while phone companies tumbled.
Mobile carriers NTT Docomo Inc., KDDI Corp. and SoftBank Group Corp. sank at least 4.6 percent after Prime Minister Shinzo Abe said reducing the burden on households from mobile phone fees is an important issue to tackle. Kansai Electric Power Co. and Hokuriku Electric Power Co. both jumped 3 percent. Energy explorer Inpex Corp. declined 4.8 percent as crude oil traded below $45 a barrel. Shipper Kawasaki Kisen Kaisha Ltd. jumped 4 percent after Mitsubishi UFJ Morgan Stanley Securities Co. raised its investment rating.
The Topix index slipped 0.3 percent to 1,476.24 as of 9:35 a.m. in Tokyo, swinging from a gain of 0.5 percent after last week capping its biggest weekly increase in almost two months. The Nikkei 225 Stock Average dropped 0.2 percent to 18,223.62.
Source : Bloomberg