Nikkei closes lower ahead of the BoJ meeting

The Japanese Nikkei index fell slightly on Wednesday, July 26, under pressure from the decline in stocks of auto and tire makers, while investors engaged in selling to take profits ahead of the monetary policy meeting of the Central Bank of Japan, which lasts for two days this week.

The Nikkei fell 0.04% to close at 32,668.34 points.

The broader Topix index fell 0.1% to 2,283.09 points.

The Bank of Japan tends to stick to its yield control policy unchanged, as policy makers prefer to scrutinize more data to ensure that wages and inflation continue to rise.

Tire makers fell 1.31%, the worst performer among the 33 sector sub-indices on the Tokyo Stock Exchange.

Bridgestone shares fell 1.27% and Yokohama Rubber shares fell 2.22%.

Shares of automakers fell 1.12%, with Isuzu Motors falling 1.77%, Subaru falling 1.93%, and Mazda Motor falling 1.72%.