Japanese stocks swung between gains and losses as increases by energy companies offset declines at airlines.
Inpex Corp., the nation’s largest oil explorer, gained 5 percent after crude prices touched a 2015 high. Nomura Real Estate Holdings Inc. jumped 1.9 percent after raising its earnings forecast. Hioki EE Corp. surged 12 percent, the most on the Topix index, after profit surged at the maker of electric measuring devices. Japan Airlines Co. slipped 2.9 percent.
The Topix fell 0.2 percent to 1,584.96 as of 12:42 p.m. in Tokyo, reversing a gain of 0.4 percent. The gauge has been stuck in an eight-point range since reaching a seven-year high last week. The Nikkei 225 Stock Average slipped 0.5 percent to 19,777.65. The measure briefly topped 20,000 last week for the first time in 15 years.
Recommended Content
Editors’ Picks
AUD/USD: Extra gains in the pipeline above 0.6520
AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.
EUR/USD meets support around 1.0650
EUR/USD managed to surpass the key 1.0700 barrier in response to the intense retracement in the US Dollar in the wake of the Fed’s interest rate decision and Chair Powell’s press conference.
Gold surpasses $2,300 as Dollar tumbles
The precious metal maintains its constructive stance and trespasses the $2,300 region on Wednesday after the Federal Reserve left its FFTR intact, matching market expectations.
Bitcoin price reclaims $59K as Fed leaves rates unchanged
The market was at the edge of its seat on Wednesday to see whether the US Federal Reserve (Fed) would cut interest rates during the Federal Open Market Committee (FOMC) meeting.
The market welcomes the Fed's statement
The market has welcomed the Fed statement, and the S&P 500 is higher in its aftermath, the dollar is lower and Treasury yields are falling. There is still only one cut priced in by the Fed.