Nikkei hits month-low amid concerns about politics and ‎interest rate

The Japanese Nikkei index closed at its lowest level in a month today, Wednesday, affected by a broad wave of selling amid global political tensions and fears that raising interest rates in the United States will lead to a slowdown in the global economy.

According to Reuters, the Nikkei index lost 1.34 percent to close at 27,104.32 points, its lowest level since January 23, and its largest daily decline since January 19.

Only 15 of the stocks listed on the index rose, compared to a decline of 209 shares, while one stock remained unchanged.

The broader Topix index fell 1.11 percent, recording 1975.25 points.

“(The drop) appears to be driven by Wall Street’s decline due to interest rate hikes as well as geopolitical concerns,” said Charu Chanana, strategist at Saxo Markets in Singapore.