Japanese Equities Slump Ahead of US Inflation Report

MT Newswires Live
9 hours ago

Japanese shares tumbled at Friday's opening session amid a jump in crude prices and fresh inflation concerns, increasing bets that the Federal Reserve will raise rates soon.

The Nikkei 225 fell 994.1 points or 1.5% to 64,276.82 as Brent surpassed $108 per barrel.

At home, the Bank of Japan's preliminary data showed the producer price index advanced 7.6% year on year in August.

Meanwhile, the business survey index, or BSI, for large manufacturers rose 7.6% in the third quarter, reversing a 1.8% decline in the second quarter.

Markets are awaiting the US consumer price index report for August, due later today, as the reading could prompt the Federal Reserve to hike interest rates at its policy meeting next week.

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