Nikkei bounces back after BOJ's policy tweaks

  • Reuters
  • Stock Market News
Nikkei bounces back after BOJ's policy tweaks
Credit: © Reuters.

* Nikkei up 0.3 pct, Topix down 0.4 pct in mid-afternoon trade

* Banks, real estate-related shares underperform

* Investors remain wary before BOJ gov's media brief at 0630 GMT

By Tomo Uetake

TOKYO, July 31 (Reuters) - Japan's benchmark Nikkei share average bounced back from one-week lows on Tuesday, after the Bank of Japan announced tweaks to its monetary policy settings but refrained from making any radical move off its easy policy stance.

In early afternoon trade, the Nikkei average .N225 rose 0.3 percent to 22,599.79 after earlier hitting its lowest level in a week.

The BOJ pledged to keep interest rates "very low" for the time being and took measures to make its massive stimulus programme more flexible, reflecting its forecast that it would take time for inflation to hit its 2 percent target. in interest rate-sensitive sectors underperformed, with banks .IBNKS.T and Real estate .IRLTY.T sector indices dropping 0.3 percent and 0.6 percent, respectively.

The broader Topix .TOPX fell 0.4 percent to 1,761.13, while the JPX-Nikkei Index 400 .JPXNK400 was down 0.3 percent at 15,566.90.

Market players were seen focusing on Governor Haruhiko Kuroda's post-meeting news conference due at 0630 GMT Tuesday for more clues on the central bank's stance.

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