Japan's Nikkei tracks Wall Street losses on U.S. rate caution [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
Advertisement The Nikkei had dropped 2.76% to 27,851.68 by the midday break, with 212 stocks of the 225 constituents down, 12 up and one flat. Earlier in the day, it hit its lowest since Aug. 10 at 27,788.12. Industrials dropped the most, followed by technology. Energy was the only sector in positive territory, eking out a gain amid a rise in crude oil prices. The broader Topix sank 1.99% to 1,940.26. The U.S. S&P 500 tumbled 3.37% on Friday and the tech-heavy Nasdaq dropped 4.1%. S&P 500 and Nasdaq futures indicated further losses for Monday, slipping 0.83% and 1.12% respectively. “There is a decent chance of a rebound in U.S. stocks today” from a technical perspective, said Kazuo Kamitani, a strategist at Nomura Securities. “If that’s the case, Japanese stocks should also gradually rise. But if U.S. stocks fall again, Japanese stocks should continue to slide towards 27,000 heading into the next FOMC meeting.” Uniqlo store operator Fast Retailing was the biggest drag on the Ni
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