Japan Nikkei extends losses

Headline indices of the Japan share market extended losses on Friday, 12 October 2018, following a slide on Wall Street overnight as jitters over rising US Treasury yields and signs of slowing global growth prompted broad selling of risky assets. Among TSE 33 issues, 19 TSE issues declined and remaining 14 TSE issues inclined, with Insurance, Land Transportation, Electric Power & Gas, Real Estate, and Banks issues being notable losers, while Metal Products, Machinery, Information & Communication, and Electric Appliances issues were notable gainers. Around late afternoon trade, the 225-issue Nikkei index eased 18.49 points, or 0.08%, at 22,572.37. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 2.43 points, or 0.14%, to 1,699.43.

Shares of export-related companies declined as yen hovered around the 112 yen line against greenback amid safe-haven appeal. Mitsubishi Electric and Sony fell more than 1% each, while Panasonic dropped almost 1%.

Shares of energy sector also added to the bearish sentiment, after Brent crude futures fell 3.4% on Thursday. Japan Petroleum shed almost 5% and Inpex fell more than 1%.

CURRENCY NEWS: Japanese yen was hovered around the 112 yen line against greenback on Friday, amid safe haven currency demand after bitter Sino-U.S. trade war and worries over global growth sapped confidence. The Japanese yen, which is a preferred currency intimes of market turbulence, traded at 112.28 on Friday.

OFFSHORE MARKET NEWS, US stock market tumbled for a second straight day on Thursday, rattled by rising interest rates, signs of a slowdown in the global economy and the US-China trade dispute. The Dow Jones Industrial Average slumped 2.1% to 25,052.83, down 2.1% or 545 points. The broad-based S&P 500 also dropped 2.1% to 2,728.26, while the tech-rich Nasdaq Composite Index fell 1.3% to 7,329.06.

European shares hit their lowest in more than 21 months on Thursday following a slide on Wall Street as jitters over rising US Treasury yields and signs of slowing global growth prompted broad selling of risky assets. The German DAX Index slumped by 1.5%. The French CAC 40 Index and the U.K.'s FTSE 100 Index both fell by 1.9%.

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