Nikkei Drops After Wall Street Share Price Fall

The stock exchange in Japan closed lower on Friday. The other important stock market indicators in the Asian region also showed sharp declines.

 

The fall in prices on Wall Street caused a negative mood on the stock exchange floors.

The sharply increased technology stocks, in particular, were sold after the enormous loss of the American tech gauge Nasdaq. Also looking forward was the critical US jobs report, which will be released later today.

The Nikkei in Tokyo entered the weekend with a minus of 1.1 percent at 23,205.43 points. The Japanese main index nevertheless gained 1.4 percent this week.

The Japanese chip companies Alps Alpine and Tokyo Electron fell 4 percent and 2.7 percent, after the minus of almost 6 percent of the Philadelphia chip index, the American indicator of the chip sector. Telecom company and tech investor SoftBank lost 3.2 percent.

Murata Manufacturing, a supplier to Apple, fell more than 1 percent, after the 8 percent drop of the American iPhone maker.

In Shanghai, the leading indicator was 1.2 percent lower in the meantime, and the Hang Seng index in Hong Kong fell 1.5 percent.

Chinese tech giants Alibaba and Tencent fell 4 and 2 percent. The Kospi in Seoul lost 1.3 percent, and the Australian All Ordinaries in Sydney lost 3.1 percent.

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