Nikkei Loses Momentum Ahead of BOJ and Machinery Orders Thursday

Japan market summary for Wednesday (Oct. 10)
Nikkei 225 Stock Average: +17.99 (+0.1%) to 17,177.89
Nikkei 225 futures Osaka: +30 (+0.2%) to 17,230, Singapore (SGX) +25 (+0.15%) to 17,225, Chicago (CME) *10/9 +20 (+0.1%) to 17,310
TOPIX: -1.88 (-0.1%) to 1,658.18; Advancers 706 x decliners 863 (unch. 153), New highs 26 x new lows 10
Jasdaq: +0.52 (+0.0%) to 1,902.44
Yen: mostly flat against US$ at 117.25 level late in Tokyo; weakened 0.7% against euro to 165.80 level
Notes: For the first time in a long time the emerging indices MOTHERS and HERCULES traded to the downside, -1.7% and -1.0%, respectively. The Bank of Japan met in day one of two of its rate policy meeting. Market-moving August machinery orders are due out early Thursday. Sony Financial Holdings also begins trading Thursday. Despite U.S. benchmark indices hitting new all-time highs, the Nikkei 225 Stock Average failed to hold onto early gains where it traded around 17,250, partially due to a lack for foreign investor buying and also because of the BOJ decision and machinery orders report Thursday. A Bloomberg poll of 39 economists shows a unanimous outlook for the BOJ to hold the key interest rate at 0.5%.