The Nikkei average turned lower after the open and is currently trading down ¥110. With the U.S. market trend and tonight's FOMC decision and Bank of Japan press conference ahead, buying has been somewhat restrained.
The Nikkei average was down ¥110 as of 9:05 a.m., turning lower after the open. Although buying led the market initially, selling prevailed after the open. The SOX Index, which supported semiconductor-related stocks, rose. Investor caution is said to be spreading in response to trends in overseas markets. The release of the U.S. FOMC decision and Federal Reserve Chair Warsh's press conference are scheduled for tonight, while the Bank of Japan is scheduled to announce the outcome of its monetary policy meeting and hold Governor Ueda Kazuo's (植田 和男) press conference on the 18th.
In the U.S. market, the major indexes—the Dow, Nasdaq and S&P 500—fell, while the SOX Index rose and supported semiconductor stocks. These moves are believed to have influenced the early direction of Japanese stocks.