TOKYO: Japan’s Nikkei share gauge edged lower on Monday as rising expectations for central bank rate hikes weighed on risk sentiment.
The benchmark Nikkei 225 fell 1.97 percent to close at 65,096.63, recovering from an earlier plunge of as much as 2.37 percent. The broader Topix slipped 0.84 percent to 4,111.71.
Wall Street’s main indexes ended lower last week after Federal Reserve Chair Kevin Warsh reiterated the central bank’s focus on fighting inflation, increasing prospects for an interest rate hike. Equity markets in Asia were broadly lower after the United States and Iran exchanged strikes as their conflict entered its sixth month.
The largest losers were Mitsubishi Materials, down 6.57 percent, followed by Japan Steel Works, 5.61 percent lower, and Advantest, down 4.48 percent.
The largest gainers were Tokai Carbon, up 7.7 percent, followed by Kansai Electric Power, 7.58 percent higher, and JTEKT, which gained 5.68 percent.
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