Nikkei falls as market focuses on US inflation data

Japanese stocks fell on Thursday, as investors awaited important US inflation data that could influence central banks’ statements around the world regarding interest rate hikes.

The Nikkei index started the session higher, but gave up its early gains and fell 0.6 percent to close at 26,237.85 points.

The broader Topix index fell 0.77 percent.

Investors are currently focused on US consumer price data due later on Thursday.

Federal Reserve member Michael Bowman said on Wednesday that she will continue to support a significant rate hike unless high inflation begins to subside.

Toshiba Corp. jumped 9.41 percent after a report that a consortium led by Japan Industrial Partners was considering buying the giant company for 2.8 trillion yen ($19.07 billion).

Toshiba shares rose 7.38 percent at the close, to have the biggest impact on the Topix index on Thursday.

Semiconductor stocks rebounded after a few turbulent sessions. Tokyo Electron and Screen Holdings rose about 2 percent.

Sony Group shares fell 0.46 percent, while Honda Motor shares rose 0.97 percent after the two companies announced their new joint venture Sony Honda Mobility.

Toho Film Production and Theater Operator was the biggest loser on the Nikkei, down 3.84 percent, despite the company declaring a profit turn and a 6 billion yen ($40.86 million) share buyback.