Nikkei Falls as Industry Shares Decline

Japan’s Nikkei index fell on Monday, with shares of some industrial companies whose financial results were disappointing, while the stock market was affected by persistent fears of a faster global interest rate hike.

The Nikkei index compensated some of its losses incurred in early trading, to close down 0.70 percent to record 27,248.87 points. The industrial sector was the biggest loser, falling by 0.99 percent.

The broader Topix index fell 0.24 percent.

Financial stocks rose as bond yields soared after Friday’s US employment report raised expectations of a sharp increase in interest rates.

Energy stocks also rose, supported by the rise in the price of crude oil.

Olympus Corp. was the biggest loser on the Nikkei index, dropping 12.2 percent, weighed down by poor business results.

Electronic component Taiyo Yuden was also down 9.69 percent after disappointing financial results.

Advantest fell 2.74 percent and Tokyo Electron fell 1.37 percent.

On the other hand, SoftBank Group was the biggest gainer, increasing by 2.61 percent.