Japan's Nikkei flat as investors await Fed, BOJ decisions

TOKYO: Japan’s Nikkei share gauge was flat on Wednesday as the broader market advanced, with investors weighing mixed economic signals and awaiting key central bank decisions. The benchmark Nikkei 225 edged 0.03% lower to 63,462.01 in early trading, poised for a fourth straight session of declines. The broader Topix gained 0.79% to 4,069.02 after touching an intraday high of 4,072.31. Investors remained cautious ahead of policy decisions by the Federal Reserve later on Wednesday and the Bank of Japan on Friday, with both expected to raise rates. Wall Street extended its selloff overnight, as rising US Treasury yields, debt concerns and soaring crude prices weighed on sentiment. Meanwhile, trade data released on Wednesday showed Japan’s exports rose 19.3% year-on-year, but a sharp 28% jump in imports left a trade deficit of 1.106 trillion yen ($7.5 billion), underscoring the impact of higher energy costs. “US markets ended lower but losses were limited, and investors are likely to stay on the sidelines ahead of the Fed and the Bank of Japan’s policy meeting, making sharp moves unlikely,” Monex Securities’ Yoshitaka Araya said in a note. Oil and coal product shares led gains among To