The Nikkei average edged lower in the morning session. Profit-taking selling emerged ahead of the FOMC, while bargain hunting also came in, leaving the TOPIX slightly higher.
By the midday close, the Nikkei Stock Average was down 88 yen from the previous day at ¥63,396.00, a slight decline, as profit-taking selling emerged in AI-related stocks ahead of the FOMC's announcement of its decision. Although selling driven mainly by concerns over higher crude oil prices and persistently elevated long-term interest rates was becoming predominant, bargain hunting also came in, limiting the decline.
The TOPIX rose 20.28 points to 4,057.44. Trading volume was 810.78 million shares, and trading value was ¥3.2816 trillion. By industry, pharmaceuticals, information and communications, and retail declined, while oil and coal products, mining, and electric power and gas rose.
The Nikkei opened 188.03 yen higher than the previous day at ¥63,672.13, rebounding at the open, but later gave up its gains as crude oil prices and interest rates rose in response to moves in the U.S. market.