The Japanese Nikkei index slightly declined on Wednesday, pressured by a drop in shares of automotive and tire manufacturing companies, as investors engaged in profit-taking ahead of the two-day monetary policy meeting of the Bank of Japan this week.
The Nikkei fell 0.04 percent to close at 32,668.34 points. Meanwhile, the broader Topix index decreased by 0.1 percent to 2,283.09 points.
The Bank of Japan is inclined to maintain its yields control policy unchanged, as policymakers prefer to scrutinize more data to ensure the continuity of wage and inflation increases.
Shares of tire manufacturing companies dropped by 1.31 percent, marking the worst performance among the 33 sector sub-indices on the Tokyo Stock Exchange.
Bridgestone shares fell by 1.27 percent, while Yokohama Rubber shares dropped by 2.22 percent.
Shares of automotive manufacturers decreased by 1.12 percent, with Isuzu Motors falling by 1.77 percent, Subaru dropping by 1.93 percent, and Mazda Motors declining by 1.72 percent.
