Japan Topix index rose for a sixth day as investors await a decision on monetary policy by the central bank.
The Topix added 0.1 percent to 1,477.44 as of 9:03 a.m. in Tokyo, with three stocks rising for every two that fell. The Nikkei 225 Stock Average slipped 0.2 percent to 18,157.39. The yen traded at 120.26 per dollar ahead of the Bank of Japan’s decision, with 34 of 36 analysts surveyed by Bloomberg forecasting Governor Haruhiko Kuroda won’t expand on record monetary stimulus.
While just two of 36 analysts surveyed by Bloomberg last week expect a move Wednesday, 15 are forecasting extra stimulus at a meeting on Oct. 30. People familiar with deliberations at the BOJ said officials as recently as last week saw little need for more easing.
E-mini futures on the Standard & Poor’s 500 Index slipped 0.2 percent after the underlying gauge fell 0.4 percent in New York on Tuesday as a rout in biotechnology shares snapped the longest rally in U.S. stocks this year.
Source : Bloomberg