Nikkei flat, solid industrial data trims expectations of BOJ easing

miércoles 28 de octubre de 2015 22:40 GYT
 

* Machinery stocks rise after firm data

* Investors await BOJ policy decision on Fri

* Brokerages underperform on weak July-Sept profits

By Ayai Tomisawa

TOKYO, Oct 29 (Reuters) - Japan's Nikkei share average was nearly flat in choppy trade on Thursday morning after stronger-than-expected industrial output data helped reduce expectations that the Bank of Japan will announce additional easing on Friday.

The market opened on a strong note after Wall Street surged as the U.S. Federal Reserve, downplaying recent global market turmoil, made a direct reference to its next policy meeting that put a December rate hike firmly in play.

While investors took heart from brisk Japanese industrial output data announced before the market open, views that the BOJ will stand pat at its Friday policy meeting grew, traders said.

The Nikkei moved between positive and negative territory, shedding 0.1 percent to 18,879.78 in mid-morning trade after earlier reaching 19,080.89. It moved closer to a resistance level traders see at its 75-day moving average of 19,103.

"Now that the Fed hints a December hike and Japan's economic data was strong, there are growing views that the BOJ may stand pat tomorrow," said Yoshihiro Okumura, an analyst at Chibagin Asset Management.   Continuación...