(RTTNews) – The Japanese stock market is significantly lower on Friday, extending losses from the previous three sessions, with the benchmark Nikkei 225 falling below the 32,400 level, following largely negative signals from global markets from one on the other day, as traders reacted to gloomy domestic developments. data showing weakness in most sectors, led by exporters and technology stocks.
Traders are also awaiting the Bank of Japan’s interest rate decision after the BoJ concludes its monetary policy meeting later in the day. The BoJ is widely expected to leave its key interest rate unchanged.
The benchmark Nikkei 225 Index shed 228.40 points, or 0.70 percent, to 32,342.63, after earlier hitting a low of 32,154.53. Japanese shares closed sharply lower on Thursday.
Market heavyweight SoftBank Group loses almost 2 percent and Uniqlo operator Fast Retailing loses almost 1 percent. Among car manufacturers, Honda loses almost 1 percent, while Toyota loses more than 1 percent.
In the technological field, Advantest loses more than 1 percent, Screen Holdings rises by 0.1 percent and Tokyo Electron falls by almost 2 percent.
In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial each lost almost 1 percent, while Mizuho Financial fell 0.4 percent.
Among the major exporters, Sony loses more than 1 percent and Mitsubishi Electric almost 1 percent, while Canon and Panasonic each lose just under 0.5 percent. Among other big losers, Z Holdings is losing more than 4 percent, while Nippon Sheet Glass and Tokyo Electric Power are each down more than 3 percent. Kubota, Shiseido and Aeon are down almost 3 percent each.
Conversely, there are no other big winners.
In the foreign exchange market, the US dollar is trading in the higher range of 147 yen on Friday.
On Wall Street, stocks fell sharply throughout the trading day on Thursday, continuing the sell-off from late in the previous session. The major averages all posted steep losses that day, with the tech-heavy Nasdaq falling to its lowest closing level in more than three months.
The major averages saw further downside late in the session, ending the day just outside the session lows. The Nasdaq fell 245.14 points or 1.8 percent to 13,223.98, the S&P 500 plunged 72.20 points or 1.6 percent to 4,330.00 and the Dow Jones fell 370.46 points or 1.1 percent to 34,070 ,42.
Major European markets also saw significant weakness that day. While the French CAC 40 index fell 1.6 percent, the German DAX index fell 1.3 percent and the British FTSE 100 index fell 0.7 percent.
Crude oil prices recovered from early weakness on Thursday, reflecting concerns about tight supplies after Russia imposed a ban on fuel exports. However, the contract made no profit and ended slightly negative. West Texas Intermediate Crude oil futures for November settled at $89.63 per barrel, down $0.03, despite rising to $90.98 from a low of $88.37 per barrel.
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