Nikkei closes lower

24 Jun, 2024

TOKYO: Japan’s Nikkei share average closed slightly lower on Friday as losses in technology shares overshadowed gains in value stocks amid a weak yen and higher yields.

The Nikkei slipped 0.09% to 38,596.47 after three straight sessions of gains. However, it fell 0.49% for the week.

The dollar pushed to a fresh eight-week top above 159 yen and clung close to a five-week peak to sterling, with the Federal Reserve’s patient approach to cutting interest rates contrasting with more dovish stances elsewhere. Japan’s 10-year government bond yield rose to a more than one-week high of 0.98% in early trade.

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