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Nikkei edges down ahead of Fed; Nintendo, Ono Pharma outperform
June 14, 2017 / 6:32 AM / in 4 months

Nikkei edges down ahead of Fed; Nintendo, Ono Pharma outperform

TOKYO, June 14 (Reuters) - Japanese stocks ended marginally lower in choppy trade on Wednesday, as investors refrained from taking positions ahead of the U.S. Federal Reserve’s monetary policy decision.

The Nikkei share average fell 0.1 percent to 19,883.52 after trading in positive territory earlier.

The index was confined to a narrow range ahead of the Fed’s two-day policy meeting that ends later on Wednesday, at which the U.S. central bank is expected to raise interest rates.

Meanwhile, some companies were under the spotlight on individual news. Nintendo Co rose 1.8 percent and was the most traded stock by turnover after the company announced on Twitter that it would release Super Mario Odyssey for Switch on Oct. 27.

Ono Pharmaceutical Co jumped 5.1 percent after the company said it would repurchase up to 20 million shares, representing 3.8 percent of outstanding shares. It also said it planned to retire up to 50 million shares of its common stock, including repurchased shares between June 14 and Sept. 29 - on Oct. 31.

The broader Topix shed 0.1 percent to 1,591.77, and the JPX-Nikkei Index 400 also declined 0.1 percent to 14,176.26. (Reporting by Ayai Tomisawa; Editing by Jacqueline Wong)

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