Home ›› 13 May 2022 ›› Stock
Tokyo stocks ended lower on Thursday, tracking Wall Street falls on concerns over US monetary tightening.
The benchmark Nikkei 225 index fell 1.77 per cent, or 464.92 points, to end at 25,748.72, while the broader Topix index gave up 1.19 per cent, or 21.97 points, to 1,829.18. The dollar fetched 129.64 yen, against 130.00 yen in New York on Wednesday.
Broad selloffs followed losses in US shares, which soured on heightened fears of even faster tightening by the Federal Reserve as inflation haunts the global economy.
Market players continued to focus on the latest US inflation data showing that consumer prices rose at an annual pace of 8.3 per cent, higher than forecast but slowing slightly from the previous month due to a drop in energy costs.
On Wall Street, the tech-rich Nasdaq index closed down 3.1 per cent while the Dow fell 1.0 per cent.
“Investors took cues from the Nasdaq’s sharp fall, and sell orders spread across a broad range of shares, particularly growth stocks,” Okasan Online Securities said.
