InstaForex InstaForex

Prime News

Nikkei Slides as Investors Cautious after Fed Official’s Dovish Remarks

Japan's Nikkei share average settled 0.6% down at 19, 234. 62 points as market's sentiment was dimmed by a stronger yen. Investors also took caution of the weakened financials which were weighed down by the decline in U.S. bond yields after relatively dovish comments from a top U.S. Fed Reserve official.

The benchmark index ended negative for the week, declining by 0.7%. The Topix shed 0.4% to 1,544.54 while the JPX-Nikkei Index 400 lost 0.5% to 13,855.47.

New York Fed Chief William Dudley's recent comments was perceived as more dovish compared to Fed Chair Janet Yellen's remarks before the Congress, who struck a hawkish tone.

Financial stocks lost ground after a recent rally due to the surge in U.S. yields earlier this week. The sector underperformed after the yields on the 10-year notes sank to 2.44% down from the 2.50% seen on Wednesday.

Toshiba Corp. posted a steep drop of 9.2% after rating agency S&P issued a warning that it could slash the group's rating if financial backing from lenders includes any form of loan restructuring. There were also concerns that the stock may be downgraded to the second section of Tokyo Stock Exchange if continues to underperform until the end of the business year.

Recommend: Prime News
 
Tesla’s Bond Retreats Within Week of Auction
19 Aug 2017, 00:53 UTC+00   
Views today: 1405 
Oil Prices Surges Three Percent as Dollar Retreats
18 Aug 2017, 23:20 UTC+00   
Views today: 1389 
‘Bitcoin Cash’ Soars on Bets of Faster Transaction Speeds
18 Aug 2017, 23:44 UTC+00   
Views today: 1374 
NY Fed Lifts U.S. Q3 GDP Growth Estimate Beyond Two Percent
19 Aug 2017, 00:10 UTC+00   
Views today: 1374 

All Prime news

Start trading with
no risks and investments
With new Start-Up Bonus of $1000
Get bonus
55%
from InstaForex
on every deposit