Nikkei 225 under pressure ahead of BOJ, drags rest of Asia lower
|The Japanese indices came under fresh selling pressure on increased nervousness, as we inch closer towards the big event for today, the BOJ policy decision. Therefore, the Japanese yen remains highly in demand amid cautious trades as markets remain divided over the outcome of the BOJ monetary policy meeting review.
The local stock exchanges were also hit by a string of poor economic data from the Japanese economy, which further weighed on investors’ minds. Japan’s CPI dropped 0.5% in June from a year earlier, while retail sales and household spendings also missed estimates. While
The losses on the Japan’s equities dragged rest of the Asian markets lower, with the Australian and Chinese stocks wavering between gains and losses.
Meanwhile, the Japanese benchmark index, the Nikkei 225 drops -0.34% to 16,420, on the back of a weaker USD/JPY, down -1.12% on the day. The Australian markets trade directionless, with the S&P/ASX 200 muted around 5,555 points.
The Chinese equities remain under pressure, with the benchmark Shanghai Composite index down -0.05%; the CSI300 index trades almost unchanged around 3,220. While Hong Kong markets dive -0.87% to 21,980 levels.
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