Tokyo Stocks End Lower
Fahad Shabbir (@FahadShabbir) Published December 07, 2022 | 11:50 AM
Tokyo, Dec 7 (UrduPoint / Pakistan Point News - 7th Dec, 2022 ) :Tokyo stocks ended lower Wednesday, tracking falls on Wall Street, where concerns grew that the Federal Reserve will continue to push up interest rates to combat still-elevated inflation.
The benchmark Nikkei 225 index closed down 0.72 percent, or 199.47 points, at 27,686.40, while the broader Topix index fell 0.10 percent, or 1.91 points, to 1,948.31.
The Dollar fetched 137.31 yen, against 137.04 Yen in New York late Tuesday.
Wednesday's losses tracked a sharp drop for all three main indexes on Wall Street, with the Dow off one percent and tech-rich Nasdaq losing two percent.
Data showing a forecast-busting jump in US services sector activity last month raised the prospect that the Fed will lift borrowing costs above five percent by next year to contain prices.
"The falls in the US market were caused by a growing view that rate increases might be maintained at a high level," Makoto Sengoku, senior equity market analyst at Tokai Tokyo Securities, told AFP.
"This phenomenon is spilling over onto Japan's stock markets", he added.
SoftBank Group added 0.84 percent to 5,967 yen and Toyota gained 0.30 percent to 1,949.5 yen.
Sony Group was down 1.27 percent at 10,875 yen and Uniqlo operator Fast Retailing slid 1.89 percent to 83,980 yen.
Recent Stories
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
More Stories From Business
-
Foreign exchange rates
13 minutes ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
1 hour ago -
Today Gold Rate in Pakistan 24 April 2024
2 hours ago -
Afghan trade delegation, FPCCI discuss bilateral trade
12 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
13 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
13 hours ago
-
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
14 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
14 hours ago -
WHO delegation calls on Chairman FBR
14 hours ago -
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
14 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
15 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
16 hours ago