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"There's increasing appetite for dip-buying"
- Hiroichi Nishi, an equities manager in Tokyo at SMBC Nikko Securities Inc.
Japanese stocks declined on Wednesday after the U.S. Federal Reserve fell short of presenting new measures to promote economic growth. The Nikkei 225 declined 0.39%, or 33.68 points, to 8,519.13, while the broader Topix lost 0.50%, or 3.73, to 736.98.
"Nothing came out of the Fed meeting and that's negative for the markets," said Shintaro Takeuchi, a portfolio investment manager at Tokio Marine & Nichido Fire Insurance Co. "Still Japanese stocks are cheap so the downside impact should be limited."
"There's increasing appetite for dip-buying," said Hiroichi Nishi, an equities manager in Tokyo at SMBC Nikko Securities Inc. "Stocks probably won't drop much lower."