Nikkei Drops 0.1 Percent on Fed Policy Uncertainty

Asian stocks fell Wednesday amid concern about a lack of new Japanese moves to calm bond markets and uncertainty about the outlook for U.S. monetary policy.

Oil prices fell to below $95 per barrel amid concern central bankers around the world might ease off measures to boost the global economy.

Investors were disappointed after Japan’s central bank failed to deliver expected measures Tuesday to ease bond market volatility. Instead, the bank only upgraded its economic outlook.

Tokyo’s Nikkei 225, the regional heavyweight, shed 0.1 percent to 13,291.10, after spiking up nearly 5 percent Monday after the prime minister promised new tax cuts. Markets in China, Hong Kong and Taiwan were closed for a holiday.

Seoul’s Kospi shed 0.6 percent to 1,909.07 while Sydney’s ASX S&P 200 fell 0.7 percent to 4,723.20. Singapore’s FTSE Straits Times index lost 0.2 percent to 3,163.35 while India’s Sensex lost 0.3 percent to 19,085.49. Jakarta and New Zealand also fell.

via Mainichi

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