Japan Stocks mixed ahead of central bank's policy meeting

Japan share market finished session with mixed note on Monday, 30 January 2023, as traders remain cautious ahead of batch of economic data and interest rate decision by the US Fed, Bank of England and European Central Bank later this week in an effort to bring inflation down from a multi-year high.

The 225-issue Nikkei Stock Average index advanced 50.84 points, or 0.2%, to finish at 27,433.40. The broader Topix index of all First Section issues on the Tokyo Stock Exchange declined 0.26 point, or 0.01%, to 1,982.40.

Total 17 of 33 industry categories of the broader Topix index declined, with iron & steel, oil & coal products, mining, insurance, and securities & commodities futures issues being notable losers, while chemicals, textiles & apparels, air transportation sectors were notable gainers.

The U.S. Federal Reserve kicks off its two-day FOMC meeting off on Tuesday. The central bank will announce its interest rate decision on Wednesday when the meeting concludes.

China's National Bureau of Statistics releases its Purchasing Managers' Index on Tuesday. Japan's unemployment and industrial production prints are also scheduled to be published the same day.

Shares of semiconductor equipment makers were mixed on reports that Washington had made progress towards a deal to curb exports of some advanced chip-making equipment to China with several governments. Tokyo Electron fell 0.2% and Advantest Corp dropped 0.6%. Nikon Corp was up 0.2%.

CURRENCY NEWS: The yen stood at 129.51 against US dollar, appreciated 0.3% from previous day close of 129.85, after trading in the range between 129.21-130.29.

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