Japanese Shares Open Lower as Oil Rally Fuels Inflation Worries Ahead of Fed Decision
MT Newswires Live
7 hours ago
Japanese shares opened lower on Thursday, tracking declines on Wall Street amid renewed inflation fears driven by rising crude prices.
The Nikkei 225 dropped 375 points, or 0.6%, to 64,768.53.
The lackluster sentiment came as Brent crude climbed past $101 on mounting Middle East supply concerns, reinforcing expectations that the Federal Reserve may proceed with a rate hike this month.
Meanwhile, the yen continued its climb, partly fueled by US Treasury Secretary Scott Bessent's challenge to market participants to oppose his dollar-weakening efforts.
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