Japan's Nikkei tracks Wall Street lower on worries over U.S. economy [Financial Post (Toronto, Ontario, Canada)]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Financial Post
The Nikkei share average fell 0.88% to 26,159.53 by the midday break and is set to post a 1.2% weekly loss. The broader Topix slipped 0.71% to 1,857.49, on course to edge down 0.5% for the week. “Investors were concerned about the outlook of U.S. economy,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. Wall Street ended lower overnight, with the benchmark S&P 500 posting its steepest percentage drop for the first six months since 1970, amid concerns over the Ukraine-Russia war, soaring inflation, higher interest rates and, more recently, a possible U.S. recession. In Japan, heavyweights fell, with Uniqlo owner Fast Retailing slipping 2.12% and chip-making equipment maker Tokyo Electron losing 3.52%. Mitsubishi Corp fell 5% and dragged the Topix the most and peer Mitsui & Co lost 5.5%. Russia will create a firm that would take over all rights and obligations of the Sakhalin Energy Investment Company, a consortium half-held by
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