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<Asia>Nikkei Ends 265 pts Lower, Down 5.8% for Whole Wk; USD/JPY Hikes ~0.8%
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Former Bank of Japan (BOJ) official Tsutomu Watanabe said that BOJ might hike rates faster than expected. The appreciation of the yen extended to 0.75% during the Asian session, sinking USD/JPY to 142.35. The Nikkei opened 157 points higher but trended lower afterwards on 6 September. It ended the day at 36,391, down 265 points or 0.7%, with a weekly cumulative loss of 2,256 points or 5.8%. Reports said that Toyota and Nissan will invest JPY1 trillion (US$6.97 billion) to expand Japan's battery storage capacity by about 50% with the support of the Japanese government. Toyota and Nissan dipped 0.3-1.3%. Heavyweights delivered varying performances. Fast Retailing grew 0.2%. TEPCO surged 2.9%. SoftBank and Tokyo Electron shed 1.8-1.9%. Rakuten plunged 5%. AAStocks Financial News |
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