AIRLINK 75.30 Increased By ▲ 1.60 (2.17%)
BOP 4.94 Increased By ▲ 0.04 (0.82%)
CNERGY 4.39 Decreased By ▼ -0.13 (-2.88%)
DFML 41.18 Decreased By ▼ -3.70 (-8.24%)
DGKC 83.31 Decreased By ▼ -2.19 (-2.56%)
FCCL 21.65 Increased By ▲ 0.25 (1.17%)
FFBL 32.00 Decreased By ▼ -0.51 (-1.57%)
FFL 9.42 Decreased By ▼ -0.17 (-1.77%)
GGL 10.08 Decreased By ▼ -0.19 (-1.85%)
HASCOL 6.82 Decreased By ▼ -0.31 (-4.35%)
HBL 114.00 Decreased By ▼ -0.70 (-0.61%)
HUBC 139.10 No Change ▼ 0.00 (0%)
HUMNL 12.00 Decreased By ▼ -0.42 (-3.38%)
KEL 4.91 Decreased By ▼ -0.12 (-2.39%)
KOSM 4.36 Decreased By ▼ -0.09 (-2.02%)
MLCF 37.51 Decreased By ▼ -0.09 (-0.24%)
OGDC 132.85 Decreased By ▼ -3.95 (-2.89%)
PAEL 24.85 Decreased By ▼ -0.54 (-2.13%)
PIBTL 6.60 Decreased By ▼ -0.09 (-1.35%)
PPL 117.80 Decreased By ▼ -3.20 (-2.64%)
PRL 26.06 Decreased By ▼ -0.53 (-1.99%)
PTC 13.72 Decreased By ▼ -0.38 (-2.7%)
SEARL 57.25 Decreased By ▼ -0.05 (-0.09%)
SNGP 66.50 Decreased By ▼ -1.50 (-2.21%)
SSGC 10.24 Decreased By ▼ -0.18 (-1.73%)
TELE 8.21 Decreased By ▼ -0.24 (-2.84%)
TPLP 10.70 Decreased By ▼ -0.28 (-2.55%)
TRG 62.40 Decreased By ▼ -0.94 (-1.48%)
UNITY 27.04 Decreased By ▼ -0.01 (-0.04%)
WTL 1.35 Decreased By ▼ -0.03 (-2.17%)
BR100 7,846 Decreased By -95 (-1.2%)
BR30 25,256 Decreased By -391.8 (-1.53%)
KSE100 74,836 Decreased By -681.2 (-0.9%)
KSE30 24,004 Decreased By -273.3 (-1.13%)

TOKYO: Tokyo stocks closed lower on Thursday, echoing falls in Hong Kong shares and Wall Street, as investors continue to worry about US inflation and rate hikes.

The benchmark Nikkei 225 index slipped 0.06 percent, or 17.66 points, to 27,498.87, while the broader Topix index lost 0.16 percent, or 3.24 points, to 1,994.57.

Tokyo trade started with gains but the upward trend was short-lived as “falls in Hong Kong stocks and lingering worries over inflation weighed on the market,” said senior strategist Shuji Hosoi of Daiwa Securities.

Wall Street stocks fell as US Treasury yields hit a multi-month peak, following fresh proof that price pressures are persisting.

The yield on the 10-year US Treasury note, a proxy for expectations of Federal Reserve monetary policy, struck four percent for the first time since early November.

The surge came after the Institute for Supply Management’s (ISM) manufacturing index came in at 47.7 in February, a bit above the January level, but still in contraction territory.

Looking ahead, traders are closely watching the ISM non-manufacturing index due on Friday, Hosoi of Daiwa Securities said, adding “a strong reading will affect the bond market” prompting further fears of inflation.

The dollar stood at 136.40 yen in Asian trade, against 136.17 yen in New York on Wednesday.

Among major shares, Sony Group ended down 0.48 percent at 11,380 yen and chip-testing equipment manufacturer Advantest lost 0.99 percent to 10,950 yen, but Panasonic advanced 2.33 percent to 1,205.5 yen.

Honda slipped 1.06 percent to 3,541 yen. Sharp ended down 1.82 percent at 918 yen.

Tokyo shares close higher on positive China data

Trading house Mitsui & Co. added 1.34 percent to 4,016 yen and Uniqlo operator Fast Retailing rallied 2.07 percent to 27,150 yen.

SoftBank Group added 1.14 percent to 5,583 yen.

Bloomberg News said Arm, a SoftBank Group subsidiary, decided not to list on the London Stock Exchange despite passionate lobbying efforts by UK politicians.

Comments

Comments are closed.