Nikkei snaps 5-day winning streak on caution over ECB's rate hike

Tokyo's Nikkei index snapped a five-day winning streak Friday on concern over the outlook for the European economy after the European Central Bank decided to raise interest rates in July for the first time in 11 years. The 225-issue Nikkei Stock Average ended down 422.24 points, or 1.49 percent, from Thursday at 27,824.29. The broader Topix index finished 25.96 points, or 1.32 percent, lower at 1,943.09. On the top-tier Prime Market, decliners were led by precision instrument, machinery, and oil and coal product issues.