From The Economic Times · Anupam Nagar · · 50s
Japan Stocks Drop as Rate Fears Grow
Japanese stocks fall second day amid profit-taking and rate concerns.
In brief
Japanese stocks fall second day amid profit-taking and rate concerns. Japanese shares declined 0.9% on Thursday as investors reacted to US rate uncertainty and geopolitical risks. Originally reported by The Economic Times.
Japanese stocks fall
Japanese shares fell about 1% on Thursday, extending losses for a second straight session.
Nikkei 225 declines
The Nikkei 225 declined 0.9% to 69,366.14, while the broader Topix dropped 1.54% to 4,090.19.
Profit-taking pressure
Investors faced profit-taking after rapid gains amid uncertainty over US interest-rate outlook.
Geopolitical risks
Increased attacks on shipping in the Gulf and Strait of Hormuz raised oil supply fears.
Fed rate uncertainty
Fed minutes showed divisions over rate hike justification with support for another increase by year-end.
Market reactions
Kubota dropped 7.42%, Komatsu fell 7.2%, and Okuma lost 4.67% on Japanese stocks.
The takeaway
Japanese shares declined 0.9% on Thursday as investors reacted to US rate uncertainty and geopolitical risks.
