The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Aug. 5, 2024.
Noriko Hayashi | Bloomberg | Getty Images
Asia-Pacific stocks traded mixed on Tuesday with Japan’s Nikkei 225 dropping as much as 2% before paring some losses, as investors awaited for the Federal Reserve to kick off its monetary loosening cycle.
Japan’s Nikkei 225 closed 1.03% lower at 36,203.22. The broad-based Topix fell 0.6% to end at 2,555.76.
The stocks fell as the yen strengthened for a sixth straight session, last at 140.65 against the dollar. It had appreciated to 139.58 yen overnight, its strongest level since July 2023.
The Fed is expected to announce its first interest rate cut since March 2022, but markets are split over the size of the reduction from the two-day policy meeting which begins Tuesday.
U.S. retail sales data is also set to take center stage as investors monitor the health of the consumer in…
