AIRLINK 61.25 Increased By ▲ 0.28 (0.46%)
BOP 6.31 Increased By ▲ 0.02 (0.32%)
CNERGY 4.47 Increased By ▲ 0.14 (3.23%)
DFML 16.18 Increased By ▲ 0.32 (2.02%)
DGKC 69.81 Increased By ▲ 0.51 (0.74%)
FCCL 18.30 Increased By ▲ 0.10 (0.55%)
FFBL 26.50 Increased By ▲ 0.25 (0.95%)
FFL 9.27 Increased By ▲ 0.04 (0.43%)
GGL 10.29 Increased By ▲ 0.04 (0.39%)
HBL 115.88 Decreased By ▼ -1.12 (-0.96%)
HUBC 114.91 Increased By ▲ 0.43 (0.38%)
HUMNL 6.98 Increased By ▲ 0.05 (0.72%)
KEL 4.94 Increased By ▲ 0.05 (1.02%)
KOSM 5.40 Increased By ▲ 0.07 (1.31%)
MLCF 38.70 Increased By ▲ 0.20 (0.52%)
OGDC 124.50 Increased By ▲ 0.53 (0.43%)
PAEL 21.95 Increased By ▲ 0.10 (0.46%)
PIAA 12.80 Increased By ▲ 1.00 (8.47%)
PIBTL 6.15 Increased By ▲ 0.05 (0.82%)
PPL 115.29 Increased By ▲ 1.54 (1.35%)
PRL 28.38 Increased By ▲ 0.08 (0.28%)
PTC 11.52 Increased By ▲ 0.07 (0.61%)
SEARL 52.40 Increased By ▲ 0.10 (0.19%)
SNGP 67.70 No Change ▼ 0.00 (0%)
SSGC 11.42 Increased By ▲ 0.09 (0.79%)
TELE 7.89 Increased By ▲ 0.04 (0.51%)
TPLP 11.62 Increased By ▲ 0.04 (0.35%)
TRG 71.93 Increased By ▲ 0.12 (0.17%)
UNITY 23.77 Increased By ▲ 0.67 (2.9%)
WTL 1.32 Increased By ▲ 0.03 (2.33%)
BR100 6,763 Increased By 46.5 (0.69%)
BR30 22,691 Increased By 174.4 (0.77%)
KSE100 65,774 Increased By 448.5 (0.69%)
KSE30 22,307 Increased By 161.8 (0.73%)

TOKYO: Japanese shares fell on Friday, tracking Wall Street’s declines overnight after hotter-than-expected US inflation data fuelled bets for a more hawkish Federal Reserve.

However, losses on Japan’s benchmark Nikkei share average were limited by a 5.75% surge in heavyweight Fast Retailing, owner of the Uniqlo brand, following a strong earnings report.

The Nikkei closed the day down 0.55% at 32,315.99, snapping a three-day winning run. Fast Retailing was the Nikkei’s only major winner on the day, with the next best performing stock - oil company Inpex - rising just 0.83%.

Of the Nikkei’s 225 components, only 15 were higher, with 208 falling and two flat. The broader Topix index slumped 1.44%. “It’s an environment that’s ripe for profit-taking,” said Nomura Securities strategist Maki Sawada, noting the Nikkei’s 4.8% rally of the past three days and the looming weekend. Even with Friday’s sizeable sell-off, the Nikkei still gained 4.26% for the week, snapping a three-week losing run.

Of the Tokyo Stock Exchange’s 33 industry groups, only mining, which includes energy companies, escaped losses. Textiles led declines with a 2.33% drop. Retailing lost 1.4%, despite Fast Retailing’s rally. Seven & i Holdings - the operator of the 7-Eleven convenience store chain in Japan - was a noteable loser, dropping 4.48% after releasing its own financial results.

Although profit was in line with forecasts, “the lack of a buyback was a slight disappointment,” Jefferies analyst Shunsuke Kuriyama wrote in a research note.

The biggest decliner was Sumitomo Pharma, down 6.33%. Peer Astellas Pharma lost 3.23%. Online services companies Rakuten Group and Recruit Holdings fell 4.32% and 3.5%, respectively. Automakers slid, with Nissan down 2.71% and Toyota dropping 1.92%. Nintendo declined 2.43%. Sony Group shed 1.95%.

Comments

Comments are closed.