Market Commentary - Foreign Markets
Japan's Nikkei Ends Cautiously Lower Ahead Of BoJ As on : 13-Jun-24  19:24

Japanese markets ended lower as investors braced for Friday's BOJ policy meeting where the central bank may consider trimming its bond buying, taking a first key step to reducing its almost $5 trillion balance sheet. The Nikkei 225 Index dipped 0.4 percent to 38,720.47. The broader Topix Index settled 0.9 percent lower at 2,731.78, giving up early gains.

On Wall Street, stocks saw some volatility after an early rally on tamer than expected consumer price inflation data, but still managed to end Wednesday's trading mostly higher following the Federal Reserve's monetary policy announcement. The Nasdaq surged 264.89 points or 1.5 percent to a new record closing high of 17,608.44 and the S&P 500 also reached a new record closing high, jumping 45.71 points or 0.9 percent to 5,421.03. Meanwhile, the narrower Dow ended the day down 35.21 points or 0.1 percent at 38,712.21.

Meanwhile, the Japanese Yen (JPY) edged down against the US Dollar (USD) on Thursday following a hawkish hold from the US Federal Reserve (Fed) which boosted the USD/JPY pair. The downside for the Japanese Yen could however be limited as investors' caution prevails ahead of the BoJ policy decision on Friday.

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