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Tokyo shares fall on U.S. charge hike fears

TOKYO, Oct. 20 (Xinhua) — Tokyo shares fell on Friday, because the prospect of additional charge hikes by the U.S. Federal Reserve added to strain on larger borrowing prices.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 171.26 factors, or 0.54 p.c, from Thursday at 31,259.36.

The broader Topix index, in the meantime, completed 8.51 factors, or 0.38 p.c, decrease at 2,255.65.

Analysts right here mentioned that market sentiment was dampened by fears over rising U.S. rates of interest resulting in larger borrowing prices after Federal Reserve Chair Jerome Powell indicated the central financial institution could depart the door open to additional charge hikes to chill the world’s largest economic system.

Technology points have been bought after a fall within the tech-heavy Nasdaq index amid considerations over rising rates of interest. Panasonic Holdings misplaced 38 yen, or 2.5 p.c, to 1,487.5 yen, and Ricoh was down 36.5 yen, or 2.9 p.c, to 1,226.5 yen.