Tokyo stocks open sharply lower after US falls

TOKYO: Tokyo stocks opened sharply lower on Friday after a rout on Wall Street as more central banks hiked interest rates in efforts to tame runaway inflation, fuelling recession fears.

The losses"follow drops in US shares" after central banks in Britain and Switzerland raised interest rates following the US Federal Reserve's rate hike, said senior market analyst Toshiyuki Kanayama of Monex. Investors are awaiting a policy decision later on Friday from the Bank of Japan , and comments from bank governor Haruhiko Kuroda, for clues about its stance on the economic impact of a weaker yen among other factors, analysts said.

The Japanese currency"is being bought because it is regarded as a low-risk asset amid falls in European and US bourses", Kanayama said.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shanghai lockdown sees quarter of US firms cut investment plans: PollSHANGHAI: Shanghai\u0027s lengthy COVID-19 lockdown pushed a quarter of US firms in the city to cut investment plans and nearly all to drop revenue forecasts, a business group said Wednesday (Jun 15). The downbeat findings of the American Chamber of Commerce (AmCham) Shanghai survey were the latest sign of
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »