Nikkei slips to new 15-month low on US worry

Published: December 21, 2018 12:42:35 | Updated: December 25, 2018 14:01:17

File Photo (Collected)

Japanese shares suffered more losses on Friday, with major indexes sinking to fresh multi-month lows, as the threats of further hikes in US borrowing costs.

The benchmark Nikkei share average lost 1.8 per cent to 20,029.30 by the midday break, after shedding a hefty 2.8 per cent on Thursday.

The index is heading for its worst quarter since 2008, with a loss of 17 per cent so far.

The broader Topix ended the morning session at 1.480.60, down 2.4 per cent. It has shed 22.5 per cent from its January peak and sinking deeper into a bear market, reports Reuters.

Dollar/yen dropped to 110.815 overnight, to its weakest since early September, having lost nearly 2.0 per cent against its Japanese peer this week, which put pressure on exporters.

Among them, Toyota Motors dropped 3.1 per cent.

Familymart Uny fell and Don Quijote fell 5.8 per cent and 3.2 per cent, respectively, after Familymart said the convenience store chain operator’s tender offer for Don Quijote came well below target.

Nissan Motor Co shares fell 1.8 per cent, but fared better than the broader market after news Japanese prosecutors re-arrested its ousted chairman Carlos Ghosn on fresh allegations of aggravated breach of trust.

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