The Nikkei average fell back in morning trading on the Tokyo stock market on the 31st, closing at ¥65,361.60, while TOPIX stood at 4,128.76. Selling orders led the market lower amid caution over U.S. rate hikes, with the decline at one point widening to around ¥1,800.
The Nikkei Stock Average fell back in morning trading on the Tokyo stock market on the 31st, with its decline from the previous Friday temporarily exceeding ¥1,500 and the index falling below ¥65,000. The morning close was ¥65,361.60, while TOPIX stood at 4,128.76, according to reports.
Concern over U.S. rate hikes weighed on the market, while rising long-term interest rates dampened investor sentiment. Market participants reportedly said expectations of a rate hike had strengthened following remarks by FRB Chair Warsh.
The market is focused on developments in the U.S. economy and interest rates, and the Nikkei average is expected to be influenced by how those developments unfold.