Japanese Stocks Fall on Weak Wall Street Cues
The Nikkei 225 index fell 0.8% to around 39,530 while the broader Topix index fell 0.8% to 2,750 on Friday, paring gains from the previous session and tracking losses on Wall Street overnight following some potentially disappointing economic data in the U.S. On the domestic front, investors reacted to data showing a slight improvement in sentiment among Japan’s major manufacturers in the fourth quarter.
That has reinforced expectations of a hawkish stance from the Bank of Japan, although uncertainty remains over whether the central bank will raise interest rates in December or January. Significant losses were seen among the index’s big players, including Mitsubishi Heavy (-3.2%), Sony Group (-2.7%), Fast Retailing (-2%), Tokyo Electron (-2.2%) and Disco (-1.1%). Despite Friday’s declines, both the Nikkei 225 and Topix were on track to close the week higher, marking their second straight week of gains.
Source: Trade Economics
