Japan Stock Exchange Nears 4% Weekly Drop
Japanese stock market indicators, particularly the Nikkei index, are heading toward their worst weekly performance in over a month, with Nikkei falling 0.3% today, Friday. It is on track to record a loss of up to 4% for the week due to rising oil prices and growing fears of inflation resulting from tensions in the Middle East. The market was affected by increasing yields on Japanese bonds and losses in major company stocks such as Fast Retailing and SoftBank, with the Topix index declining by 0.1%. Amid economic uncertainty, it is expected that markets will experience profit-taking at the end of the week, while shipping costs continue to rise amid prospects of the Strait of Hormuz remaining closed.
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