Japan Shares Closed Flat as Investors Awaited The Fed Meeting

Japan shares closed flat on Wednesday, as gains in the health care sector were offset by profit-reaping selling in the technology sector, despite the continuing state of caution in general ahead of important meetings of the US Federal Reserve (central bank) and the Bank of Japan.

The Nikkei index closed down 0.02% to 29,914.33 points, while the broader Topix index rose 0.13% to 1,984.03 points.

Analysts said that sentiment towards Japan’s stocks remains relatively positive, thanks to robust forecasts for the global economy and progress in vaccination campaigns to prevent Covid-19 virus.

Japan stocks are likely to move in a narrow range until the end of the month as investors are reluctant to form positions before the end of the fiscal year on March 31.