Japan’s Nikkei closes at a two-month low

Japanese stocks on Wednesday hit their lowest close in more than two months, tracking Wall Street and Asian bourses, as investors awaited monetary policy meetings from the Federal Reserve and the Bank of Japan this week.

The Nikkei index closed down 1.36 percent to record 27,313.13 points, the lowest closing level since July 19.

The broader Topix index also fell 1.36 percent, its lowest close since the seventh of September.

Markets expect a US interest rate hike of at least 75 basis points. However, the BoJ is expected to deviate from the mainstream among central banks by refusing to raise interest rates, even with rising inflation.

The Nikkei index witnessed a decline of 187 shares out of 225 listed on it in the morning session, while 37 shares rose and shares remained stable.

The decline in the share of Daikin Industries, air conditioners, the biggest pressure on the index, as it fell 3.94 percent.

Steelworks shares were the best performer, rising 4.11 percent, despite the company reducing its profit forecast for the current fiscal year. The gains were concentrated in the energy and financial sectors in general.