British News Agency

Japan’s Nikkei 225 declined 2.06 percent, while the Topix was down 1.8 percent. The yen strengthened for a sixth straight session, last at 140.40 against the dollar. The yen strengthened to 139.58 yen overnight, its weakest level since July 2023.

The Fed is expected to announce its first interest rate cut since March 2022, but markets are split over the size of the reduction from the two-day policy meeting, which begins Tuesday.

Hong Kong’s Hang Seng index climbed 1.1 percent. Australia’s S&P/ASX 200 rose 0.24 percent. South Korea, mainland China and Taiwan’s markets were closed for a holiday.

In the U.S., the Dow Jones Industrial Average rose 0.55 percent to a new record high at 41,622.08, tracking the rise in the S&P 500, up 0.13 percent, settling at 5,633.09. The broad-based index could notch a new all-time this week if its momentum holds up.

Meanwhile, the Nasdaq Composite lost 0.52 percent to finish at 17,592.13, weighed down by tech stocks.