TOKYO, Oct. 4 (Xinhua) — Tokyo shares closed decrease for the fifth straight buying and selling day on Wednesday amid fears of additional rate of interest hikes by the U.S. Federal Reserve.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average ended down 711.06 factors, or 2.28 %, from Tuesday to shut the day at 30,526.88, marking the bottom degree in about 5 months since May 17.
The broader Topix index, in the meantime, completed 56.58 factors, or 2.49 %, decrease at 2,218.89.
Market watchers right here famous a widespread promoting of shares within the Tokyo market because of a way of relative overvaluation, with the U.S. long-term price rising to a 16-year excessive.
Selling of value-laden semiconductor-related shares corresponding to Tokyo Electron and Advantest additionally pushed the Nikkei Stock Average decrease on Wednesday.
On the top-tier Prime Market, decliners had been led by transportation gear, iron and metal, and financial institution points.
Issues that fell outpaced people who rose by 1,690 to 132, whereas 13 ended the day unchanged.