Asian stocks fluctuate as traders nervously await Fed, BOJ
On Tuesday, Asian shares edged lower, as market participants nervously waited for the outcomes of two-day Fed and BOJ policy gatherings.
The financial markets are more nervous regarding the BOJ than the Fed, because it might give a surprise. In recent weeks, global markets have been blowing hot and cold over the Fed's intentions, that remain far from clarified after both hawkish as well as dovish comments from several Fed officials.
The consensus is that the major US bank will leave interest rates intact at the end of its gathering on Wednesday, with traders focusing on the statement and Janet Yellen's speech for further clues on the timing of the Fed’s next interest rate increase.
Outside Japan, MSCI's broadest index of Asia-Pacific shares sank 0.2%, after key American indexes ended a choppy trading session almost flat.
Japan's Nikkei stock index dared to erase its earlier losses and gained 0.1%, as trading resumed after Monday’s public holiday.