Japanese Shares Set for Sharp Weekly Drop
The Nikkei 225 Index fell 0.3% to below 36,550 while the broader Topix Index dropped 0.5% to 2,607 on Friday, with Japanese shares sliding for the third straight session as a rallying yen continued to pressure domestic equities. The Nikkei and Topix indexes are also on track to decline about 5% and 4%, respectively, this week for their first losing week since early August.
Meanwhile, investors digested data showing Japan's household spending rose less than expected in July, although previous data pointed to rising wages. Elsewhere, traders cautiously awaited a crucial US jobs report that could affect the Federal Reserve's interest rate decision this month. Notable losses were seen from index heavyweights like Disco Corp (-2.4%), Tokyo Electron (-1.7%), Mitsubishi Heavy Industries (-3.2%), Toyota Motor (-2.1%) and Advantest (-1.6%).
Source : Trading Economics