Tokyo: Shares close lower ahead of key US data
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TOKYO shares snapped a 5-day winning streak and closed lower on Friday (Jun 10), tracking falls on Wall Street, with investors awaiting key US inflation data due later in the day.
The benchmark Nikkei 225 index lost 1.49 per cent or 422.24 points to end at 27,824.29, while the broader Topix index fell 1.32 per cent or 25.96 points to 1,943.09.
US equities sank overnight, with the Dow shedding nearly 2 per cent ahead of the data on soaring US consumer prices, and after the European Central Bank joined the Federal Reserve in taking steps to rein in inflation.
“The Tokyo market opened lower after drops of US indexes... then investors locked in profits before the US Consumer Price Index is published this evening,” Okasan Online Securities said.
The dollar fetched 133.88 yen, against 134.40 yen in New York and 133.75 yen in Tokyo on Thursday.
Rate hikes by the Fed and major central banks have caused the yen to plunge as the Bank of Japan sticks to its ultra-loose monetary policy in a decades-long battle against deflation.
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Industrial robot maker Fanuc plunged 3 per cent to 21,320 yen while Japan Steel tumbled 2.69 per cent to 2,150 yen.
Uniqlo operator Fast Retailing fell 0.93 per cent to 69,180 yen. SoftBank Group dropped 2.01 per cent to 5,545 yen. AFP
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