TOKYO, June 27 (Xinhua) — Japan’s benchmark Nikkei stock index closed decrease on Tuesday, extending its dropping streak for a fourth-straight day, as expertise points adopted their U.S. friends decrease in a single day.
The 225-issue Nikkei Stock Average misplaced 160.48 factors, or 0.49 p.c, from Monday to shut the day at 32,538.33.
The broader Topix index, in the meantime, misplaced 6.36 factors, or 0.28 p.c, to complete at 2,253.81.
Dealers right here stated that bellwether expertise shares have been bought following related points dropping floor on Wall Street in a single day, dragging the Nikkei all the way down to ebook its fourth consecutive day of decline for the primary time in 2023.
They added that U.S. shares had come beneath stress over ongoing considerations the U.S. Federal Reserve will proceed with its aggressive charge hike coverage, following remarks from Fed officers to that finish, the newest being from New York Fed President John Williams.
“Although the Fed paused interest rate hikes in June, the data is a matter of great interest, as investors will likely want to adjust their positions based on the extent of the rate hike slowdown,” Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.
Attention has now shifted to key U.S. financial information, together with U.S. sturdy items orders, for clues as to the longer term course of the Fed’s inflation-battling charge hikes, market analysts right here stated.
Technology points weighing probably the most included CyberAgent slumping 4.1 p.c, whereas Sony Group fell 1.2 p.c.
Chip-testing gear maker Advantest closed 2.5 p.c decrease, whereas Nikkei heavyweight SoftBank Group dropped 1.6 p.c.
Oriental land, operator of the Tokyo Disney Resort, was a notable winner, leaping 3.8 p.c, after saying ticket costs could be elevated later this 12 months.
Shipping points helped trim losses, with Nippon Yusen including 3.7 p.c, Mitsui O.S.Ok. Lines up 3.1 p.c, and Kawasaki Kisen Kaisha surging 11.5 p.c.
By the shut of play, pharmaceutical, precision instrument and actual estate-linked points comprised people who gained probably the most.
The turnover on the second buying and selling day of the week got here to three,438.78 billion yen (23.92 billion U.S. {dollars}).