Japan's Nikkei ends nearly flat as markets await key central bank meetings
bank meetings this week largely trumped a rise in heavyweight chip-related shares.
The Nikkei erased early gains to close down 0.03% at 39,457.49, while the broader Topix shed 0.3% to 2,738.33.
«There's certainly a strong sense that investors are taking a wait-and-see approach» ahead of the central bank meetings this week, said Hiroshi Namioka, chief strategist at T&D Asset Management. The U.S. Federal Reserve is widely expected to deliver another 25 basis points interest rate cut on Wednesday, putting the focus on hints regarding its rate path outlook in 2025. Meanwhile, Reuters and other media outlets have reported that the Bank of Japan is leaning toward keeping rates steady at its Dec. 18-19 meeting.
Isuzu Motors, up 1.9%, was among exporter shares to gain on a softer yen, although the impact of the weaker currency was limited as investors adjusted positions.
Toyota slipped 0.2%, Honda Motor fell 0.5%, and Mitsubishi Motors dropped 0.9%.
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