Nikkei snaps 3-day winning streak as early U.S. rate cut hopes recede

Economy

The Nikkei stock index snapped a three-day winning streak Thursday as investors locked in gains after sentiment was dampened by the U.S. Federal Reserve signaling interest rate cuts were not on the immediate horizon.

The 225-issue Nikkei Stock Average ended down 275.25 points, or 0.76 percent, from Wednesday at 36,011.46. The broader Topix index finished 17.06 points, or 0.67 percent, lower at 2,534.04.

On the top-tier Prime Market, decliners were led by insurance, rubber product and machinery shares.

The U.S. dollar remained weak in the upper 146 yen zone in Tokyo after the Fed hinted there w...

Kyodo News

Kyodo News