Japan’s Nikkei stock index fell for a fourth straight session on Tuesday, tracking Wall Street, which posted losses overnight, ahead of a Federal Reserve seminar later this week, while airline and retail shares jumped on news of a possible relaxation of rules imposed on the economy. Borders to control COVID-19. The Nikkei fell 1.19 percent to 28,452.75 points, and the broader Topix index fell 1.06 percent to 1971.44 points.
Wall Street closed sharply lower on Monday, with investors worried that the Jackson Hole meeting would cement the Federal Reserve’s commitment to controlling inflation. Technology stocks fell, tracking their US counterparts following US Treasury yields rose.
SoftBank Group, an investment in emerging companies, fell 2.42 percent, and Tokyo Electron chip-making equipment fell 0.79 percent. In contrast, shares of entertainment-related companies gained following reports that Japan may raise requirements for travelers to undergo COVID-19 tests before departure, and increase the maximum number of foreign visitors.
The aviation sector was at the top of the sectors that achieved gains among the 33 sub-indices that make up the Tokyo Stock Exchange, and it rose by 3.99 percent. ANA Holdings jumped 3.26 percent, and Japan Airlines jumped 4.88 percent. Retail stocks also rose, as Isetan Mitsukoshi Holdings Inc. rose 4.47 percent, and J.Frant Retail shares gained 4.56 percent.