Tokyo: the Nikkei ends the week on a small decrease

The Nikkei lost 0.23% to 28,864.32 points, limiting its losses for the whole week to -0.35%. The broad Topix index gained 0.61% on Friday to 1,896.18 points.

The Tokyo Stock Exchange closed in disarray on Friday, the flagship Nikkei index ending slightly down after the indices fell on Wall Street the day before, amid concerns about rising bond rates in the United States.

The Nikkei lost 0.23% to 28,864.32 points, limiting its losses for the whole week to -0.35%. The broad Topix index gained 0.61% on Friday to 1,896.18 points.

The New York Stock Exchange suffered heavy losses Thursday after the wait of the US Federal Reserve (Fed), which does not intend to tighten monetary policy immediately, despite fears of inflation. Ten-year yields on US Treasuries climbed again in the wake.

The Nikkei was also pulled down by losses at heavyweights like Fast Retailing (Uniqlo), Okasan Online Securities noted in a note.

Hong Kong’s Hang Seng index was almost stable (+ 0.08%) at the end of the session. The Shanghai (-0.04%) and Shenzhen (+ 0.17%) composite indices also closed close to breakeven.

On the side of values

HONDA

The car manufacturer Honda (+ 1.6% to 3,101 yen) on Friday launched in Japan the marketing of the first car in the world equipped with an approved level 3 advanced autonomous driving system, for which it obtained last November the green light from the Japanese authorities.

Only 100 copies will be available for leasing initially, according to a press release from the group. The level 3 autonomous driving system, on a scale from 0 (fully manual driving) to 5 (driverless), corresponds to automation under pre-defined conditions.

FAST RETAILING STILL STRIPPED

The title of Fast Retailing fell again (-3.38% to 95,870 yen), while it had already unscrewed by 5.45% the day before following the announcement by the group of a drop of 9% prices of its Uniqlo and GU brands in Japan. UBS has also lowered its recommendation on the title to “neutral” against “buy” previously.

On the currency and oil side

The yen fell against the dollar, at a rate of one dollar against 108.23 yen around 07:30 GMT against 107.98 yen Thursday at 21:00 GMT.

The Japanese currency was also losing ground against the euro, which was worth 129.40 yen against 129.24 yen the day before.

The euro climbed to $ 1.1954 from $ 1.1969 on Thursday.

The oil market was still on the rise, having jumped the day before in the wake of the decision of the OPEC + countries to increase their production of black gold only marginally.

At around 07:00 GMT the price of a barrel of US crude WTI gained 1.69% to 64.91 dollars and that of a barrel of Brent from the North Sea soared 6.06% to 67.95 dollars.

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