Japanese stocks closed lower, pressured by fears of Fed rate hike

Japanese stocks ended lower on Thursday, tracking losses on Wall Street on Wednesday night, as concerns about the outlook for companies increased after the Federal Reserve hinted at continuing the path of raising interest rates for a longer period.

According to “Reuters”, the Nikkei index ended trading down 0.37 percent, recording 28,051.70 points, after it had recorded a rise for a short period during the session.

The broader Topix index fell 0.18 percent to 1,973.90 points.

Fast Retailing, owner of Uniqlo clothing, fell 0.79%, putting the biggest pressure on the Nikkei. Chipmaker Tokyo Electron fell 0.69 percent

Shiseido Cosmetics fell 2.32 percent, after rising nearly 10 percent this month.

Manufacturing machinery makers were the best performers on the Nikkei, with Kawasaki Heavy Industries jumping 5.02 percent, Mitsubishi Heavy Industries 4.13 percent and Hitachi Zosen 3.10 percent.