Nikkei near two and half week low

The Nikkei average closed down 0.29 percent to 38,701.90 while the broader Topix index settled 0.44 percent lower at 2,701.99. Nikkei is at around two and half week low. Japanese inflation edged up in November as higher energy costs dominated proceedings.

Bank of Japan stands pat in bow to sluggish economy

TOKYO -- The Bank of Japan on Thursday decided to maintain its accommodative monetary policy as the economy's performance remains uneven and consumer inflation shows signs of slipping. After a two-day meeting, the central bank kept its policy rate -- the uncollateralized overnight call rate -- unchanged at 0.25% for the third straight meeting.