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Wednesday, 20 December 2017

Tokyo stocks opened flat; After all the major US indices eased on profit taking. #Investors expecting

TOKYO: Tokyo stocks opened flat on Wednesday, with investors staying on the sidelines after retreats on Wall Street and before the Bank of Japan's policy meeting.
The benchmark Nikkei 225 index slipped 0.13 percent, or 30.35 points, to 22,837.65 in early trade while the broader Topix index was up 0.04 percent or 0.78 points, at 1,815.96.
The market opening was dominated by selling "after all the major US indices eased on profit taking," Okasan Online Securities said.
"After the initial selling runs its course, a wait-and-see mood will likely to grow ahead of the outcome of the (BoJ) policy meeting tomorrow," it said in a note.
Bank of Japan policymakers are to begin a two-day meeting Wednesday, with investors expecting them to stay pat.
BoJ Governor Haruhiko Kuroda is to speak to reporters Thursday afternoon after the meeting.Wall Street stocks retreated from records Tuesday, pausing from the euphoria over a tax cut bill.
The most comprehensive revamp of the US tax code in three decades is heading to the Senate for a decisive vote expected to take place later Wednesday.Subaru fell 4.46 percent to 3,575 yen after public broadcaster NHK reported the automaker, already hit by an inspection scandal, may also have cheated on fuel efficiency data.
The chief executive of Subaru said Tuesday he and all other executives would return part of their pay until next March after admitting the group had allowed uncertified staff to conduct inspections of some vehicles.Banks were higher with Mitsubishi UFJ up 1.99 percent at 834 yen and Sumitomo Mutsui up 2.21 percent at 4,983 yen.
The dollar was trading at 112.96 yen on Wednesday against 112.86 yen in New York Tuesday afternoon.

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