Japan Nikkei falls on U.S. rate hike fears

September 21,2023

Japan stock market finished lower for the third straight session on Thursday, 21 September 2023, as risk aversion selloff continued on tracking falls on Wall Street overnight after the US Federal Reserve signaled that it probably had at least one more hike to combat stubborn inflation..

The 225-issue Nikkei Stock Average index stumbled 452.75 points, or 1.37%, to finish at 32,571.03. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 22.59 points, or 0.94%, to 2,383.41.

Shares of chip-related companies suffered the most losses, with chip-testing equipment maker Advantest shedding 2.65%. Chip-making equipment maker Tokyo Electron slipped 1.09% and technology start-up investor SoftBank Group lost 3.17%

Toshiba Corp shared closed marginally higher after an announcement that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success, clearing the way for it to be delisted.

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