Nikkei snaps a winning streak ahead of US GDP data

Japan’s Nikkei index snapped a four-session winning streak on Thursday, with shipping companies leading the decline, as investors around the world await US economic data that could influence the path of the Federal Reserve’s interest rate hike.

The Nikkei index closed down 0.12 percent at 27,362.75, after rising 0.4 percent earlier in the session. The broader Topix index fell 0.12 percent to 1978.40.

The Standard & Poor’s 500 closed lower on Wednesday after a series of disappointing corporate earnings fueled concerns about the economic impact of the Federal Reserve’s monetary tightening.

Investors are now awaiting US Q4 GDP data due at 1330 GMT, which may determine the direction of the Fed’s upcoming policy meeting.

In Japan, chip maker Tokyo Electron and Advantest fell 1.81 percent and 2.24 percent, respectively.

Air-conditioning maker Daikin Industries fell 1.83 percent and Sony Audio Equipment Manufacturing Group fell 1.29 percent.

While the real estate sector rose 1.11 percent, recording the best performance among the 33 sub-index of the industry on the Tokyo Stock Exchange. However, shipping companies fell 2.82 percent, the worst performer.