The Nikkei index is falling for the fourth session

Japan’s Nikkei fell for the fourth consecutive session on Wednesday as data on weak factory production added to fears of a global economic slowdown, while investors await Federal Reserve Chairman Jerome Powell’s speech for clues about US monetary policies.

The Nikkei index ended Wednesday’s trading down 0.21 percent at 27,968.99 points, after touching its lowest level since November 16.

The broader Topix index fell 0.37 percent to 1,985.57 points.

Japanese factory production fell for the second consecutive month in October, as stalled global demand and persistent supply problems curbed Japanese manufacturers’ production plans.

Fed Chairman Powell will speak at the Brookings Institution later on Wednesday about the outlook for the US economy and labor market. Investors will be looking for clues as to when the US central bank will slow the pace of sharp interest rate increases.

Investors are also awaiting US labor market data for November and third quarter GDP numbers.

In Japan, optical glass maker Hoya fell 2.09 percent, and contact lens maker Menicon lost 3.49 percent.

The utility sector fell 1.3 percent, and Tokyo Electric Power lost 3.29 percent.