Nikkei closes flat ahead of Fed decision

Japan’s Nikkei index ended Wednesday’s trading in the Tokyo Stock Exchange little changed amid weak trading ahead of the Federal Reserve’s decision on interest, which would also give clues to the bank’s future policy path. Still, investors were keen to buy Sony Group shares in light of strong expectations.

Nikkei fluctuated during the session between ups and downs, before closing at 27,663.39 points. Sony shares lifted the broader Topix index 0.10 percent to 1,940.46 points.

Sony shares rose 7.01 percent after the group raised its full-year operating profit forecast by 4.5 percent.

Leading TDK also jumped 6.72 percent after the sensor maker raised its annual net profit forecast, while Subaru shares rose 3.78 percent after it tripled its annual operating profit forecast.

Investors refrained from actively trading in anticipation of the US central bank’s rate decision later on Wednesday.

Japanese markets will be closed on Thursday due to a local holiday.

Toyota Motor shares fell for a second session, falling 0.25 percent, after the automaker posted a worse-than-expected 25 percent drop in quarterly profit and lowered its annual production target.

Kao’s shares fell 8.71 percent, weighing on the Nikkei, as the cosmetics company reported a lower profit in the fourth quarter.