The Tokyo Stock Exchange falling in the wake of Wall Street


The Tokyo Stock Exchange fell sharply on Thursday in the wake of Wall Street yesterday, investors are worrying effects of depressed crude prices and the slowdown in the global economy. The Nikkei has lost up to 4% during the session, touching its lowest level since late September just prior to mitigate its losses to abandon 474.68 Points (2.68%) to 17240.95.

The Topix broader sold 35.54 point (2.46%) to 1406.55.

Headwinds from China and commodity markets could once again undermine the plans of the Federal Reserve, less than a month after the first increase in interest rates in almost ten years, estimated Wednesday two officials of the US central bank.

“Investors are wondering more and more if the market (US) is strong enough to support four rate hikes this year,” says Masashi Oda, Sumitomo Mitsui Trust Bank.

Oil and mining stocks were particularly hard hit as well as exporters like Honda, which sold 2.94%.

Sumitomo plunged 5.75% after announcing a depreciation on a nickel project in Madagascar and to have withdrawn its profit forecast for the current year.

Leave a Reply

Your email address will not be published. Required fields are marked *