Japan Market end higher; eyes on Fed decision

Japan share market finished lacklustre session slight higher on Wednesday, 15 December 2021, as risk sentiments subdued on lingering concerns about the impact of the coronavirus Omicron variant on global economic recovery and ahead of the Federal Reserve's money policy announcement later in global day

At closing bell, the 225-issue Nikkei Stock Average added 27.08 points, or 0.1%, to 28,459.72. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 10.29 points, or 0.52%, to 1,984.10.

Total 24 of 33 Topix industry groups ended up, top performing issues were Transportation Equipment (up 2.5%), Securities & Commodities Futures (up 2.2%), Services (up 1.6%), Iron & Steel (up 1.5%), Mining (up 1.2%), and Air Transportation (up 1.2%), while bottom performing sectors included Marine Transportation (down 3%), Precision Instruments (down 1%), Rubber Products (down 0.8%), Pulp & Paper (down 0.6%), and Pharmaceutical (down 0.6%).

Investors are keeping a close eye on the Fed Chairman Jerome Powell policy meeting announcement for indication about quickening of its monthly bond purchase tapering program, as it seeks to combat an ongoing rise in inflation.

Shares of Toyota Motor gained after the carmaker lifted its electric vehicle sales goal to 3.5 million units for 2030 and plans to spend 8 trillion yen by that year to boost product electrification.

Eisai shares advanced following a report that Japanese health authorities will discuss the approval of the pharmaceutical's Alzheimer's drug Aduhelm on December 22.

CURRENCY NEWS: The U.S. dollar was firmer in the upper 113 yen range on Wednesday ahead of the end of the Fed's two-day meeting, where investors expect the central bank to decide on a faster winding down of asset purchases. The dollar fetched 113.71 yen on Wednesday, against 113.74 yen in New York late Tuesday

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