The Nikkei Average ended the morning session down ¥88 as selling to adjust positions ahead of the FOMC prevailed in the Tokyo stock market on the morning of the 16th. TOPIX, meanwhile, remained modestly in positive territory.
The Nikkei Average ended the morning session down ¥88.10 from the previous day at ¥63,396.00, while TOPIX rose a modest 20.28 points to 4057.44. Selling to adjust positions stood out ahead of the announcement of the US FOMC's decision.\n\nBuying driven by a sense that stocks were undervalued prevailed at the open, but the advance did not last long, and the index slipped back into negative territory within a short time. Selling in some AI and semiconductor-related stocks weighed on the broader indices.\n\nOn the Prime Market, advancing issues accounted for approximately 67% of the total, while declining issues accounted for 28% and unchanged issues for 3%. By sector, oil and coal products, mining, and electric power and gas rose, while pharmaceuticals, information and communications, and retail declined.\n\nMarket participants focused on the direction of monetary policy after the FOMC, refraining from active trading as a wait-and-see mood spread. In the afternoon session, volatile trading may continue as investors await US-related cues.