The Nikkei 225 Index Closes 0.95% Lower

The Nikkei 225 Index fell 1.42% to close at 69,042, while the broader Topix Index declined 1.51% to 4,091 on Thursday, with both benchmarks extending losses for a second consecutive session as oil prices surged amid renewed tensions between the US and Iran, heightening inflation concerns. The latest FOMC minutes also pointed to a hawkish stance among policymakers, keeping investors cautious about the possibility of further rate hikes. Domestically, Bank of Japan member Ayano Sato, who previously dissented from the central bank’s September rate hike, said this week that she favored a gradual approach to raising interest rates in multiple stages, reinforcing expectations that policymakers could tighten policy again. Technology and banking stocks led the decline, with sharp losses from Taiyo Yuden (-4.4%), SoftBank Group (-4.3%) and Mitsubishi UFJ (-3.3%).

The Nikkei 225 Index fell 667 points or 0.95 percent on Thursday to close at 69368 points. Leading the losses are Sumco (-5.10%), Komatsu (-5.02%) and Kubota (-4.90%). Top gainers were Trend Micro (4.83%), Ricoh (2.90%) and Yamato Transport (2.32%).

The Nikkei 225 Index declined 1.1% to below 69,300, while the broader Topix Index fell 1.3% to around 4,100 on Thursday, with both benchmarks extending their losses for a second consecutive session following an overnight selloff on Wall Street as bond yields climbed to multi-decade highs. Minutes from the US Federal Reserve’s September meeting also revealed that all 19 policymakers supported the September rate hike, while most believed another increase would be appropriate by year-end. Meanwhile, oil prices advanced amid concerns over a potential escalation between the US and Iran and continued risks to shipping through the Strait of Hormuz, adding to inflationary pressures. Notable declines included Advantest (-1.12%), SoftBank Group (-3%) and Mitsubishi UFJ (-1.8%). In contrast, Kioxia Holdings gained 2.9% after Japan Exchange Group Inc. announced that the memory maker’s free-float weight would increase to 50% from 15% in its latest regular review.