Tokyo’s main index closes slightly higher in a softer session for Asian equities
The Nikkei is bucking the trend on the day as equities are a tad softer in Asian trading, with Chinese stocks leading losses so far. Japanese stocks recovered from their earlier dip but gains aren’t really too notable as markets are cautious ahead of the FOMC meeting decision that is to come later today.
That said, Chinese equities are down by quite a bit with the Shanghai Composite lower by 1.1% currently. Overall risk sentiment remains rather muted though with US equity futures trading at flat levels and I would expect European equities to follow suit as well.
Risk sentiment isn’t lending much help for currencies in terms of direction but we’ll most likely have more of an idea after the Fed. USD/JPY holds higher at 111.56 currently as the dollar is slightly on the front foot ahead of European trading.