Japanese Stocks Closing Lower

Japanese indices fell on Thursday, amid concerns among investors about the tension between the United States and China and focus on the speech of Jerome Powell, Chairman of the US Federal Reserve.

Nikkei 225 index fell by 0.35% to 23208.86 points, while TOPIX ​​index fell by 0.53% at 1615.89 points.

Caution reigns among Asian investors over the military moves in the South China Sea, as Washington blacklisted 24 Chinese companies while Beijing reportedly test-fired missiles into the region on Wednesday.

Powell is scheduled to speak on Thursday at a meeting of central bankers in Jackson Hole, Wyoming, where he is expected to provide more clarity on the U.S. central bank’s efforts to renew its monetary policy approach, including a shift to targeting an average inflation rate of around 2% which would allow rates to stay very low for longer.

The Japanese Yen is currently trading at 106.9700, down 0.2% against the US dollar