Tokyo stocks close lower on U.S. rate hikes, inflation concerns
Xinhua,February 28, 2018 Adjust font size:
TOKYO, Feb. 28 (Xinhua) -- Tokyo stocks closed lower Wednesday bringing an end to a three-day winning streak as new Federal Reserve Chairman Jerome Powell's congressional testimony sparked concerns about more rapid interest rate hikes and higher U.S. inflation.
The 225-issue Nikkei Stock Average lost 321.62 points, or 1.44 percent, from Tuesday to finish the day at 22,068.24.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 22.10 points, or 1.23 percent, lower to close at 1,768.24.
Mining, oil and coal product and iron and steel-linked issues comprised those that declined the most by the close of play. Enditem