Japan Shares Hit a More Than 6-Week Low

Japan’s Nikkei index reversed course to close at its lowest level in more than 6 weeks, weighed by concerns about rising interest rates, a slowdown in China, and the country’s new prime minister with low approval ratings.

The Nikkei index fell 1.05% to close at 2,7528.87 points, its lowest level since August 23. The index, which rose 1.4 percent earlier in the session, closed at a loss for the eighth consecutive session.

The broader Topix index also fell 0.3% to 1941.91 points.

Heavyweights led the losses, with Fast Retailing, which operates clothing stores Uniqlo, down 3.1 percent, chipmaker Tokyo Electron shedding 2.08 percent, and technology investment group SoftBank shedding 2.07 percent.

On the other hand, a local media poll showed that Prime Minister Fumio Kishida is struggling to find a foothold with voters just two days after forming his new government. A daily newspaper put his approval rating at 45 percent, much lower than the administration of his predecessor Yoshihide Suga when she came to power last year.