Nikkei suffers a weekly loss due to interest concerns and ‎iPhone ban

– Japan’s Nikkei index fell by more than 1% on Friday, incurring its first weekly loss in 3 weeks after following the path of Wall Street in light of fears that the Federal Reserve (the US central bank) will tighten its monetary policy and that China will extend a ban on iPhone phones.

Technology and industrial companies were among the biggest losers, with the shares of the giant chip manufacturing equipment manufacturer Tokyo Electron falling 3.83 percent, pushing the Nikkei index to decline, losing 85 points.

Mobile games and advertising company CyberAgent’s shares also fell by 6.83 percent, recording the largest percentage decline in the Nikkei Index.

The Nikkei index fell 1.16% to 32,606.84 points at the close, after falling 0.75% on Thursday, when it also ended an eight-day winning streak after touching its highest level in more than a month at 33,322.45 points early in the session. The index rose 0.32 percent over the week

The broader Topix index fell 1.02% today and also fell for the second day after recording its highest level in 33 years early in yesterday’s session, Thursday. However, the Topix index was able to achieve gains of 0.40% during the week.

Among the 225 stocks listed on the Nikkei index, 200 stocks fell, 24 rose, and one stock stabilized, while among the industrial groups on the Nikkei index, only the utilities sector stocks rose.

The decline in new US unemployment claims has increased speculation that the Federal Reserve may continue to tighten monetary policy.