The Nikkei 225 was down 0.12 percent, reversing some of its earlier 0.4 percent losses, while the Topix index slipped 0.26 percent in morning trade. Japanese markets were shut on Thursday for a public holiday after climbing nearly 2 percent Wednesday when the Bank of Japan (BOJ) announced an overhaul of its monetary policy framework.
The yen climbed to as high as 100.67 against the dollar, compared to levels above 102 on Wednesday, following the BOJ's announcement and before the Fed's policy decision. At 11:41 a.m. HK/SIN, the dollar/yen traded at 101.18.
Investors seemed to move toward risk back on as equities moved higher. The ASX 200, a Hang Seng and Kospi were up while the Nikkei and the two Chinese markets were down. Gold was off 0.2%. Brent crude, the international benchmark for oil, was down 1% in early Asian trade. Still there was some hesitation as some investors appeared to be searching for direction after a week of potential news followed by a let down of economic important data to close out the week.
Reuters reported: In the currency market, the dollar was softer on the Fed's policy outlook, with the dollar's index against a basket of six major currencies .DXY =USD slipping to its lowest level in nearly two weeks on Thursday. The index last stood at 95.530, off Thursday's low of 95.048 but down 0.5 percent on the week.
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