Tokyo stocks opened 0.09 percent higher on Thursday after US markets fell on the latest news from the Federal Reserve which showed few signs it is leaning towards more stimulus.
The Nikkei 225 index at the Tokyo Stock Exchange opened up 8.39 points at 8,859.39.
“Since economic conditions in the US and Japan are not breaking through the bottom, many believe that the central banks may not take action immediately,” Tachibana Securities market analyst Kenichi Hirano told Dow Jones Newswires.
He said markets have factored this in following the publication of the minutes from the Federal Reserve’s most recent policy meeting in June, which showed few surprises.
The major US indexes fell into the red overnight amid lingering doubts about a bailout plan for Spain, weak US business confidence figures and the expectation of mediocre earnings.
The Dow Jones Industrial Average finished down 0.38 percent, or 48.59 points, at 12,604.53.
The minutes showed that several of the Federal Reserve’s top policy makers urged the central bank to look at new tools to bolster the financial system amid a weak recovery, but also showed the Fed split on how, when and if to provide more stimulus.
The Bank of Japan will conclude its two-day policy meeting later Thursday, but Tachibana’s Hirano said it is possible that the impact of the outcome may be limited.
“The market already priced-in most of the possible options for Thursday’s outcome from the BoJ policy meeting,” Hirano said.
