The Nikkei index closed lower

Japan’s Nikkei index closed lower on Tuesday, with chip-related stocks leading the decline amid investor caution ahead of central bank meetings in the United States and Japan.

The Nikkei index fell 0.87 percent to 33,242.59 points. Tokyo Electron shares fell 5.23 percent, recording the worst performance on the index.

Japanese markets were closed for holiday on Monday.

Advantest, a maker of chip testing equipment, lost 4.03 percent, and chip maker Renesas Electronics fell 4.75 percent.

SoftBank Group’s shares, which invest in emerging technology companies, fell 3.29 percent after the shares of its chip design company, Arm Holdings, declined on the second day of trading.

Financial markets expect the Federal Reserve to keep interest rates unchanged on Wednesday, according to CME’s FeedWatch tool, but the focus will be on obtaining guidance from the central bank on the next stage.

The Bank of Japan will also announce its policy decision on Friday after concluding its two-day monetary policy meeting.

Investors are awaiting comments from Bank of Japan Governor Kazuo Ueda, who told a newspaper earlier this month that the central bank may have enough data by the end of the year to determine whether conditions are right to raise short-term interest rates.

The broader Topix index recovered from its early losses and closed 0.08 percent higher at 2,430.39 points, with Toyota Motor shares rising 2.07 percent and Mitsubishi UFJ Financial Group rising 2.56 percent.

The banking sector rose 2.08 percent, and auto makers shares advanced 2.06 percent.

The shipping sector jumped 3.12 percent, becoming one of the biggest gainers among the 33 sub-indices on the Tokyo Stock Exchange.