The Nikkei index faces a weekly loss due to interest rates concerns

Japan’s Nikkei index fell by more than one percent on Friday, incurring its first weekly loss in three weeks after following the path of Wall Street in light of fears that the Federal Reserve will tighten its monetary policy and that China will extend a ban on iPhones.

Technology and industrial companies were among the biggest losers, with the shares of the giant Tokyo Electron company, which manufactures chip-making equipment, falling 3.83 percent, pushing the Nikkei index to decline, losing 85 points.

Mobile gaming and advertising company CyberAgent’s shares also fell 6.83 percent, recording the largest percentage decline in the Nikkei index.

The Nikkei index fell 1.16 percent to 32,606.84 points at the close, after falling 0.75 percent on Thursday, when it also ended an eight-day winning streak after touching its highest level in more than a month at 33,322.45 points early in the session.

The index fell 0.32 percent over the week.

The broader Topix index fell 1.02 percent on Friday and also fell for the second day after hitting a 33-year high early in Thursday’s session.

However, the Topix managed to gain 0.40 percent for the week.

Among the 225 stocks listed on the Nikkei index, 200 stocks declined, 24 rose, and one stock settled.

Among the industrial groups on the Nikkei index, only the utilities sector rose.

The decline in new US jobless claims increased speculation that the Federal Reserve may continue to tighten monetary policy.