Tokyo stocks end lower amid U.S. rate hike concerns

0 Comment(s)Print E-mail Xinhua, September 21, 2023
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TOKYO, Sept. 21 (Xinhua) -- Tokyo stocks closed lower on Thursday amid concerns over continued monetary tightening in the United States.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, dropped for the third consecutive day by losing 452.75 points, or 1.37 percent, from Wednesday to close the day at 32,571.03.

The broader Topix index, meanwhile, finished 22.59 points, or 0.94 percent, lower at 2,383.41.

After the U.S. Federal Reserve's policy meeting raised more doubts that the central bank will retain its aggressive posture, stocks tracked an overnight decline on Wall Street here in Tokyo. Although a rate hike may occur within the year, the Fed decided to maintain rates constant as was largely anticipated.

Following an increase in long-term U.S. treasury yields, Japan's long-term benchmark interest rate also climbed to a 10-year high on Thursday.

The yield on 10-year Japanese government bonds rose to 0.745 percent, the highest level since September 2013, ahead of the Bank of Japan policy meeting outcome on Friday.

On the top-tier Prime Market, decliners were led by precision instrument, mining, and electric appliance issues.

Issues that declined outpaced those that rose by 1,229 to 536, while 71 ended the day unchanged. Enditem

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