Nikkei snaps 5-day winning streak as market wary before Fed outcome

martes 16 de septiembre de 2014 02:13 GYT
 

TOKYO, Sept 16 (Reuters) - Japanese stocks broke a five-day
winning streak on Tuesday as most investors stayed on the
sidelines ahead of this week's outcome of the Federal Reserve
meeting, though SoftBank jumped on news of strong demand for
Alibaba's initial public offering in the United States.
    The Nikkei share average dropped 0.2 percent to
15,911.53.
    SoftBank Corp soared 3.5 percent and contributed
hefty 34.28 points to the Nikkei after Alibaba Group Holding Ltd
IPO-BABA.N raised the price range on its initial public
offering to $66 to $68 on Monday because of hefty investor
demand. SoftBank owns more than a 30 percent stake in Alibaba.
 
    The Fed's Open Market Committee two-day policy meeting
begins later in the day, and global markets are keenly awaiting
clues on the timing of the first U.S. rate hike in more than
eight years. 
    The broader Topix dropped 0.2 percent to 1,310.86,
and the JPX-Nikkei Index 400 slid 0.3 percent to
11,872.99. 

 (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)