22.01.201502:49:00UTC+00Japanese stocks drop before ECB policy talks

Japanese stocks dropped ahead of the European Central Bank decision later today. Softbank Corp. surged to lead stocks.

The Topix Index shed 0.1% to 1,389.43 at the end of trade in Tokyo. The trend showed that for every nine shares dropping, seven climbed. The Nikkei 225 Stock Average fluctuated before settling higher, rising by 0.3% to 17,329.02. The nation’s currency weakened by 0.2% to match the dollar at 118.21 yen per dollar. Yesterday, the currency surged by 0.7%. Bridgestone led the retreat among the gauge’s 33 industry groups.

Softbank boost by 2.8% as it tracked US unit Sprint Corp. which added 5.5%. Bridgestone Corp. fell by 1.7% while Fukuoka Financial Group Inc. tumbled by 3.3%.

 The European Central Bank will meet later today. Market participants are betting that the central bank will add stimulus in a bond-purchase program worth 550 billion euro or $639 billion to be announced by ECB head, Mario Draghi.