Japanese Stocks Close Lower Following Wall Street

Japan’s Nikkei ended the session lower on Friday after Wall Street tumbled overnight as concerns about the impact of the coronavirus pandemic dented omicron’s effect on risk appetite.

The Nikkei closed down 1.28 percent, recording 28,124.28 points, after dropping more than two percent to approach its lowest level in four weeks. The broader Topix index fell 1.39 percent to 1977.66 points.

The Nikkei lost 1.2 percent this week, while the Topix fell 0.9 percent for the week.

All major indices on Wall Street closed lower, and the Nasdaq led losses after a three-day rally amid talk that the Federal Reserve will raise interest rates earlier than expected, possibly in March.

Robotics maker Fanuc fell 5.12 percent, and air-conditioning maker Daikin Industries lost 2.77 percent.

Hitachi gave up early gains, dropping 0.36 percent after local media reported that the conglomerate would sell part of its stake in Hitachi Construction Equipment.