Nikkei stumbles ahead of US Fed announcement

Stocks hit a one-week low on Japan's Nikkei 225 today (June 17th) as investors awaited news from the US Federal Reserve's policy meeting.

According to Reuters, the index fell 0.5 per cent to 20,137.33 points at one point during morning trading, before recovering slightly to end the day on 20,219.27 points.

Among the biggest fallers were Toyota, which was down 0.7 per cent at one point. and Nissan, which fell 0.4 per cent. There were also falls for Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, which dropped 0.7 per cent and 1.8 per cent respectively during the trading session.

Investors are awaiting news from the US Federal Reserve regarding growth in the world's second largest economy before making any significant moves on the stock market.

Senior technical analyst at Daiwa Securities Hikaru Sato explained: "Sentiment is tense, so investors do not want to buy major shares like exporters and banks."

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