FX.co ★ Japanese Shares Fall for Second Session

The Nikkei 225 Index fell 1.1% to below 69,300 on Thursday, while the broader Topix Index declined 1.3% to around 4,100, with both benchmarks extending losses for a second straight session. The weakness followed an overnight selloff on Wall Street, as bond yields climbed to their highest levels in decades.

Minutes from the US Federal Reserve’s September meeting showed that all 19 policymakers backed the September rate hike, and that a majority still expect another increase by year-end. At the same time, oil prices rose on mounting concerns over a potential escalation between the US and Iran and persistent risks to shipping through the Strait of Hormuz, amplifying inflationary pressures.

On the corporate front, notable decliners included Advantest (-1.12%), SoftBank Group (-3%) and Mitsubishi UFJ (-1.8%). In contrast, Kioxia Holdings advanced 2.9% after Japan Exchange Group Inc. said the memory maker’s free-float weighting would rise to 50% from 15% in its latest regular index review.