Japanese stocks fell on Friday, tracking Wall Street’s overnight declines, after higher-than-expected US inflation data raised the possibility that the Federal Reserve would be forced to keep interest rates high for a longer period.<\/p>\n\n\n\n
However, the Japanese Nikkei index’s losses were limited due to a 5.75 percent jump in the index’s heavyweight Fast Retailing, the company that owns the Uniqlo brand, after a strong earnings report.<\/p>\n\n\n\n
The Nikkei index closed on Friday down 0.55 percent at 32,315.99, ending a three-day winning streak.<\/p>\n\n\n\n
The broader Topix index fell 1.44 percent.<\/p>\n\n\n\n
Even with today’s heavy selling, the Nikkei is still up 4.26 percent over the week after a string of losses over the previous three weeks.<\/p>\n\n\n\n
Among the 33 industrial groups on the Tokyo Stock Exchange, only the mining sector, which includes energy companies, escaped losses, while the textiles sector led declines by 2.33 percent.<\/p>\n\n\n\n
The retail sector fell 1.4 percent despite the jump in Fast Retailing shares.<\/p>\n\n\n\n
Sumitomo Pharma shares were the biggest losers, falling 6.33 percent.<\/p>\n\n\n\n
Automaker Nissan shares fell 2.71 percent, while Toyota shares fell 1.92 percent.<\/p>\n\n\n\n
Nintendo and Sony Group shares also fell by 2.43 percent and 1.95 percent, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japanese stocks fell on Friday, tracking Wall Street’s overnight declines, after higher-than-expected US inflation data raised the possibility that the Federal Reserve would be forced to keep interest rates high for a longer period. However, the Japanese Nikkei index’s losses were limited due to a 5.75 percent jump in the index’s heavyweight Fast Retailing, the …<\/p>\n","protected":false},"author":9,"featured_media":90891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6837,6885,8501,8143],"class_list":["post-90890","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-eurozone","tag-fed","tag-feds-beige-book","tag-interest-rate-hikes"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=90890"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90890\/revisions"}],"predecessor-version":[{"id":90892,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90890\/revisions\/90892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/90891"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=90890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=90890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=90890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}