TOKYO, Japan (AFP) — Tokyo stocks opened flat Wednesday as investors fled to the sidelines ahead of a rate announcement by the US Federal Reserve, while Toshiba edged up after it settled a dispute with its US partner.
The benchmark Nikkei 225 index inched down 0.57 points to 22,865.60, while the broader Topix index was up 0.10 percent, or 1.89 points, at 1,816.97.
Wednesday’s Tokyo trade “lacks a clear sense of direction” ahead of the expected Federal Reserve interest rate hike later Wednesday, said SBI Securities in a commentary.
“With little market-moving news available, a wait-and-see attitude is likely dominating the market,” it said.
Outgoing Fed Chair Janet Yellen is slated to speak at a news conference following the announcement, and investors will be watching closely for signals on the timetable for rate hikes in 2018.
The dollar fetched 113.56 yen in early Asian trade, up from 113.51 in New York late Tuesday and 113.45 yen in Tokyo on Tuesday.
Toshiba was up 1.30 percent at 310 yen after the crisis-hit company said it had settled legal disputes with US production partner Western Digital.
This paves the way for the embattled conglomerate to sell its chip business to raise much-needed cash.
Nintendo was up 0.70 percent at 43,570 yen after a report it is looking to expand tie-ups with software developers on smartphone games.
Some semiconductor-linked firms were lower following a weak reading in the US chip industry index known as SOX.
Chip-testing equipment manufacturer Advantest was down 1.48 percent at 2,119 yen.
In New York, the Dow and S&P 500 ended at all-time highs for the third straight day.
© Agence France-Presse