Nikkei Falls to a One-Month Low

Japanese stocks fell to a one-month low on Tuesday as growth stocks were hit hard, as rising oil prices heightened concerns about inflation and monetary tightening globally. The Nikkei index fell by 2.19% to close at 27822.12 points.

The broader Topix index lost 1.33% to 1947.75 points, above its 200-day moving average of 1927. This is the seventh session of losses for both indices, which reached their lowest level since late August.

Growth stocks that benefited from low-interest rates underperformed sharply, with Topix’s Growth Stocks Index down 1.9%.