TOKYO: Japan’s Nikkei share average fell on Wednesday, tracking overnight declines in Wall Street after a batch of upbeat US economic data raised concerns that sticky inflation could slow the Federal Reserve’s pace of monetary easing.
The Nikkei index slipped 0.26% to close at 39,981.06. Of the index’s 225 components, 156 retreated, 67 rose and two finished flat.
The broader Topix slid 0.59%, with growth shares dropping 0.68% versus a 0.51% slide in value shares .
The US S&P 500 sank 1.1% on Tuesday, after a report showed that services sector activity accelerated in December 2024, with a measure tracking input prices surging to nearly two-year high.
Rate-sensitive tech shares slid, with the tech-heavy Nasdaq index dropping 1.9%. Chip shares initially fell in Tokyo, but rebounded over the course of the day, with Nomura strategist Kazuo Kamitani pointing to Nvidia’s presentation at CES overnight generating fresh buzz for the sector.
Source: Brecorder
