TOKYO — Tokyo stocks fell slightly against the yen in early trading Tuesday as investors awaited an important U.S. Federal Reserve Board meeting later in the day. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average fell 43.72 points, or 0.32 percent, to 13,829.30 at the start of trading. On Monday, the average closed down 170.90 points, or 1.23 percent.
The dollar bought 123.28 yen in early trading, up 0.56 yen from late Monday in Tokyo but marginally lower than its late New York level of 123.29 yen.
On the stock market, the Nikkei posted moderate declines after the tech-heavy Nasdaq composite index shed 25.51 to 2,081.92 at Monday’s finish. Also in New York, the Dow Jones industrial average rose 56.02 to close at 10,877.33.
The broader Tokyo Stock Price Index of all issues listed on the first section was down 4.76 points, or 0.35 percent, to 1,359.49. The TOPIX lost 12.51 points, or 0.92 percent, the day before.
In currency dealings, the dollar remained in a narrow range as many investors took to the sidelines ahead the Federal Open Market Committee meeting Tuesday.
Most analysts still expect the Fed to make its fifth interest rate cut this year at the meeting, but there were doubts whether the reduction would be as big as expected.
The Fed has been lowering rates to stimulate the weakening U.S. economy, but some recent data have indicated business activity may be not be as weak as previously thought.
In other currencies, the euro was traded at 107.68 yen, up from 107.46 yen late Monday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Monday, it settled at 1.2300 percent and its price stood at 101.49.
