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Tokyo shares end lower, extending global rout

AFP . Tokyo
01 Oct 2022 00:00:00 | Update: 30 Sep 2022 22:25:09
Tokyo shares end lower, extending global rout

Tokyo stocks closed lower on Friday, extending falls on Wall Street where higher US Treasury yields, inflation and rising recession fears persisted.

The benchmark Nikkei 225 index lost 1.83 per cent, or 484.84 points, to end at 25,937.21 -- its lowest level since July 1 -- while the broader Topix index dropped 1.76 per cent, or 32.86 points, to 1,835.94.

Many investors also refrained from making aggressive moves as the financial half-year comes to an end in Japan.

Overnight, Wall Street’s main indices slumped as US Treasury yields continued to rise and the latest data showed a drop in first-time unemployment benefit claims, falling below 200,000 for the first time since May.

Global investors are still dumping shares because the US Federal Reserve is committed to its plan for aggressive rate hikes, Daiwa Securities said.

In line with falls on Wall Street, international cyclical shares such as exporters are broadly trading lower, it said, adding that Apple shares fell sharply overnight after analysts downgraded the tech giant.

This led Apple suppliers and tech-related shares to turn softer, Daiwa said.

The dollar stood at 144.48 yen, nearly flat from 144.42 yen in New York late Thursday. Japan’s jobless rate in August stood at 2.5 per cent, down 0.1 per cent from the previous month, while the number of jobs available to every 100 job seekers improved to 132 from 129, official data showed.