Japanese Stocks Fall Amid Wall Street Weakness
Japanese Stocks Track Wall Street Lower, The Nikkei 225 index fell 0.9% to around 38,600 while the broader Topix index fell 0.4% to 2,670 on Tuesday, hitting its lowest level in more than two weeks and taking cues from a weak lead on Wall Street overnight as Treasury yields surged on signs of economic resilience and concerns about a re-acceleration in U.S. inflation.
In Japan, investors were also cautious amid political uncertainty ahead of Japan’s general election later this week, while awaiting a slew of corporate earnings reports. Elsewhere, traders were closely monitoring the yen’s movements as its recent breach of the 150-per-dollar level prompted fresh verbal intervention from Japanese authorities.
Significant losses were seen in index heavyweights such as Disco Corp (-1.8%), Mitsubishi Heavy Industries (-2.1%), IHI Corp (-2%), SoftBank Group (-1.2%) and Fast Retailing (-0.9%).
Source: Trading Economics
