Nikkei Records The Worst Weekly Performance in Two Months

Japan’s Nikkei index recovered on Friday after falling to a 14-week low, and although it was supported by strong gains in Apple Inc, it recorded its biggest weekly decline in two months.

The Nikkei stuck to the gains it recorded in the morning and did not witness any fluctuations after midday, and ended the transactions up 2.09 percent to close at 26717.34 points. This was the first session of gains in four, with about ten stocks rising against one decline.

During the week, the Nikkei fell 2.93 percent, in its fourth weekly decline, as Japanese stocks joined a global sell-off, amid fears of an acceleration in the pace of US monetary tightening.

The broader Topix index rose 1.87 percent but was still down 2.61 percent for the week.

And Apple, the world’s largest company by market value, achieved record sales during the last quarter of the year, exceeding analysts’ expectations.

Sony Group shares jumped 3.95 percent, recovering from its lowest level since early October. Toyota Motor shares rose 3.42 percent, recovering from their lowest close this year.

Fuji Electric rose 10.43 percent, becoming the biggest gainer on the Nikkei index, after posting strong gains on Thursday.

But Tokyo Electron fell 1.32% to a three-month low.

Fujitsu was the biggest loser in percentage terms, tumbling 9.95 percent after the company posted disappointing results.