Tokyo stocks move in a seesaw pattern as investors await U.S. monetary decision; Nikkei up ¥6 at 10:00 a.m. to ¥63,490

As investors remained on the sidelines ahead of the U.S. monetary policy decision, the Tokyo market moved in a seesaw pattern. The Nikkei 225 stood at ¥63,490.72 as of 10:00 a.m., up ¥6.62 from the previous day.

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The story

The Tokyo stock market moved in a seesaw pattern around the previous close on the morning of the 16th, with the Nikkei 225 fluctuating around the previous day’s closing level. The TOPIX rose 34.29 points to 4,071.45.

Buying was supported by the market’s relative undervaluation following three consecutive sessions of declines through the previous day, as well as the yen’s continued depreciation against the U.S. dollar. At the same time, cautious trading prevailed ahead of the FOMC announcement.

Some technology-related stocks were sold, at times weighing on the broader market. Investors refrained from aggressive trading as they sought to assess the direction of U.S. monetary policy.

At a glance

Nikkei 225¥63,490.72, up ¥6.62 from the previous day

TOPIX4,071.45, up 34.29 points

TimingPrice movements as of 10:00 a.m.

FactorsInvestors remained on the sidelines ahead of the FOMC announcement

Buying factorsThe market’s relative undervaluation and the yen’s continued depreciation attracted buying

Offsetting factorSelling in some technology stocks weighed on the market

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