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Japan: Nikkei opens the year with five straight days of declines

Friday, January 8, 2016 - 14:54
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Japanese stocks fell on Friday, making the new year the first since 1949 that opened with five consecutive losing sessions.

[TOKYO] Japanese stocks fell on Friday, making the new year the first since 1949 that opened with five consecutive losing sessions.

Nervous investors sought to lessen their exposure ahead of U.S. jobs data and a three-day weekend in Japan.

The Nikkei share average fell 0.4 per cent to 17,697.96 after selling accelerated late in the session, erasing earlier gains that followed a rebound in Chinese markets.

The benchmark index shed 7 per cent in the first week of the new year for its biggest weekly decline since early September.

This week marked by worries over an economic slowdown in China and volatility stemming from instability in its currency.

The broader Topix shed 0.7 per cent to end the session at 1,447.32 with all but three of its 33 subindexes in negative territory. The index lost 6.5 per cent for the week.

The JPX-Nikkei Index 400 fell 0.7 per cent to 13,029.77.

REUTERS