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Nikkei index retreats from the highest level in two months

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(MENAFN- Al Wakeel News)

NEWS AGENT – The Nikkei index closed lower today, Wednesday, after approaching a two-month high in the previous session, and Nintendo shares fell due to lower profits as investors cautiously awaited US inflation data to speculate on the path of a future US interest rate hike.

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The Nikkei’s losses increased in the evening session, to close down 0.56% to 27,716.43 points, down from a peak of 27943.27 points reached on Tuesday, the highest level since mid-September.

The broader Topix index fell 0.41% to 1949.49 points.

Video game maker Nintendo fell 7.1% after cutting sales forecasts for its Switch by 10%.

The worst performer on the Nikkei was after GS shares fell. Yuasa battery maker for electric cars 7.42 percent, following disappointing financial results.

Energy stocks also declined with the decline in oil prices and was the worst performer on the Nikkei index, and the sector index fell 2.67%.

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