PT Solid Gold Berjangka | Japanese Stocks Fall Amid Concerns Over Further US Rate Hike
Japanese stocks drop, as the Topix snapped an eight-day winning streak, after US peers fell on stronger-than-expected economic data that might suggest a further US interest rate hike by the Federal Reserve.
Topix fell 0.2% to 2,387.38 as of 9:02 a.m. Tokyo time
Nikkei declined 0.2% to 33,182.09
The Institute for Supply Management’s US services index for August reached 54.4, its highest monthly reading since February. The yen remains weak at 147.68 against the dollar, providing support for export-related names.
Hoya Corp. contributed the most to the Topix Index decline, decreasing 1.3%. Out of 2,157 stocks in the index, 448 rose and 1,457 fell, while 252 were unchanged. Oil and coal industry sector is the biggest contributor to the index as oil price remains high.
Source : Bloomberg
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