Business

Tokyo stocks open down 0.98%

Tokyo stocks opened 0.98% lower today as investors awaited a policy decision by the Federal Reserve and US growth data.

The benchmark Nikkei 225 index, which rose 1.53% yesterday, lost 136.27 points to 13,733.55 at the start.

The Fed is to wrap up a two-day policy meeting Wednesday with market players looking for clues to its thinking on winding down its massive stimulus programme.

Investors are also waiting for data on April-June gross domestic product to see how the world's largest economy is faring.

Currency rates were static.

The dollar was at 98.00 yen (RM3.2461) in early Asian trade today, hardly changed from 98.02 yen in New York yesterday afternoon.

The euro fetched US$1.3259 (RM4.3012) and 130.04 yen compared with US$1.3264 and 130.02 yen.

New York stocks closed mostly flat yesterday. The Dow Jones Industrial Average slipped 0.01% to 15,520.59. - AFP, July 31, 2013.

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