Japanese Stocks Fall Following Wall Street Decline
The Nikkei 225 index fell 0.6% to below 39,200 while the broader Topix index fell 0.4% to 2,730 on Friday, paring gains from earlier in the week and tracking losses on Wall Street overnight as a major rally in U.S. stocks lost momentum. Investors are also gearing up for the crucial U.S. monthly jobs report.
In Japan, data showed that inflation-adjusted real wages were unchanged in October from a year earlier, an improvement from a 0.4% decline in September and 0.8% in August.
That supported expectations for a potential interest rate hike by the Bank of Japan this month, although uncertainty remains over whether the move will come in December or January.
Technology stocks led the decline, with significant losses in Disco (-3.1%), Lasertec (-1.3%), Tokyo Electron (-1.9%), Advantest (-2.4%) and Recruit Holdings (-1%). Despite Friday's declines, the Nikkei and Topix indexes were on track to end the week up about 2.4% and 1.7%, respectively.
Source: Trading Economics
