Nikkei index closed lower ahead of the US and Japanese central bank meetings

Japan’s Nikkei index fell on Monday, tracking declines on Wall Street in the previous session and affected by caution ahead of meetings of the Japanese and US central banks.

The Nikkei index closed down 0.95 percent at 30,696.96 points, while the broader Topix index closed down 1.04 percent at 2,231.24 points.

“The Nikkei index fell due to the losses in the Dow Jones index at the end of last week,” said Shoichi Arisawa, general manager of the investment research department at Iwaikosmo Securities. “Investors were hesitant to buy stocks as they await policy decisions at the meetings of the central banks in the United States and Japan.”

Economists polled by Reuters expected that the Federal Reserve (US central bank) would keep the key interest rate unchanged on November 1, and would likely wait longer than previously thought before cutting interest rates.

Hino Motors shares fell 18.67 percent to 435.2 yen, slightly above its daily minimum, after the automaker announced an annual net loss, missing expectations for a profit.

The auto industry index fell 2.83 percent, recording the largest losses among 33 sector indices on the Tokyo Stock Exchange, with Toyota Motor shares falling 2.44 percent.

Omron stock also fell to its daily low, falling 15.83 percent after the healthcare equipment maker cut its annual profit forecast.