Nikkei edges down ahead of BOJ policy decision
By Joshua Hunt
TOKYO Oct 30 (Reuters) - Japanese stocks dipped in subdued trade on Friday morning as investors awaited a decision from the Bank of Japan on whether it will expand its massive stimulus programme.
The BOJ is expected to hold monetary policy steady even while diluting its rosy inflation forecasts, sources say, clinging to the hope that a tightening job market will underpin consumption and help the economy emerge from a soft patch.
The Nikkei share average slipped 0.2 percent to end the morning session at 18,907.60 points.
"There's a huge amount of anticipation evident in our flow this morning as people wait on the Bank of Japan," said Stefan Worrall, cash equities manager at Credit Suisse.
"And what I mean by that is there's practically no flow at all."
Some traders said hopes that China's economic slowdown was bottoming out have done little to dampen expectations that the BOJ might introduce further stimulus after Friday's meeting.
While most investors waited on the sidelines, trading was driven by domestic corporate earnings announcements.
The Topix subindex for iron and steel shed 1.1 percent after Japan's two biggest steel producers slashed guidance and production estimates after the market closed on Thursday. Continuación...