Nikkei falls for sixth day ahead of US inflation data

TOKYO: Japan’s Nikkei share average fell for a sixth straight session on Tuesday as investors exercised caution ahead of the US inflation report and the Federal Reserve’s policy decision.

The Nikkei ended 0.16% lower at 36,159.16. The index rose as much as 0.9% earlier in the session as investors scooped up cheaper stocks after recent sell-offs.

“The market was cautious ahead of the outcome of the Fed’s policy decision, while we have the Bank of Japan’s policy meeting this month,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.

The market is now awaiting the US consumer price index (CPI) report, due on Wednesday. The Fed’s policy decision is expected next week. “Investors sold domestic stocks as they braced for Wall Street’s decline later in the day as US stock futures were falling during Asia trade,” Suzuki said.