The Nikkei Average fell for a second straight session in the Tokyo market on the 29th, with the decline temporarily exceeding ¥800. The rise in US crude oil futures and expectations of additional rate hikes in the US were cited as factors.
The Nikkei Stock Average fell for a second straight session in the Tokyo stock market on the 29th, with the decline from the previous day temporarily exceeding ¥800. As weakness spread across the market, the decline in US stocks also weighed on the market.
Buying interest was thin from the morning, particularly in resource stocks, following the rise in US crude oil futures, and investors grew more risk-averse. In addition, expectations of further rate hikes by the US Federal Reserve Board (FRB) spread, heightening caution over US interest rate trends.
Market attention may focus on future policy developments and international affairs. Trends in US equity markets and movements in the oil market are expected to continue affecting the Nikkei Average.