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Nikkei Falls as JPY Strengthens, Pre-FOMC Caution Begins -- Market Talk

Dow Jones Newswires ·  Nov 2, 2021 02:20

0615 GMT - Japan's Nikkei Stock Average fell 0.4% to close at 29520.90 as the yen strengthened and investors turned cautious before the FOMC's two-day meeting that starts later today. Among the worst performers, Japan Exchange Group slipped 4.6% and Mitsui & Co. dropped 4.0%, while Kyowa Kirin slid 6.4% after reporting its nine-month net profit fell 12% on year. Meanwhile, TDK and Kyocera climbed 8.7% and 5.3%, respectively, after raising their fiscal-year revenue, net profit and dividend forecasts. USD/JPY was at 113.69 compared with 114.23 as of Monday's Tokyo stock-market close. The yield on the 10-year Japanese government bond was down 1 basis point at 0.080%. (ronnie.harui@wsj.com)

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