TOKYO, Nov 2 (Reuters) - Japanese shares dipped on Tuesday,
after hitting a month's high in the previous session, as
investors geared up for the U.S. Federal Reserve's timetable to
roll back stimulus measures at its meeting this week.
The Nikkei share average fell 0.28% to 29,563.37, a
day after posting its biggest daily gain since June following a
solid election victory by Prime Minister Fumio Kishida's ruling
coalition. The broader Topix fell 0.62% to 2,032.15.
"The market is looking to what the Federal Reserve will do
with its tapering," said Yuya Fukue, a trader at Rheos Capital
"While November tends to be a good month for stocks, the
stock market could be vulnerable if the pace of the Fed's
tapering will be quicker than expected."
The Fed will announce its policy decision on Wednesday when
Japanese markets will be shut for a public holiday.
Ahead of the event, domestic earnings results also continued
to weigh on markets.
Pola Orbis dropped 8.8% after the cosmetics maker
reported disappointing quarterly results.
Ship builder Hitachi Zosen lost 6.7%, while
drugmaker Kyowa Kirin shed 6.3% also on earnings
On the other hand, TDK Corp jumped 8.9%, while
Kyocera gained 5.5% after the electronic parts makers
reported brisk results.
Dexerials rose by its daily limit of 21.4%, after
the maker of optical and electronic materials posted strong
profits, and announced a dividend hike and stock buyback plan.
More earnings reports are scheduled on Tuesday, including
Nippon Steel, Mitsubishi Chemical and Mitsui &
(Reporting by Hideyuki Sano; Editing by Ramakrishnan M.)