Terumo''s mixed performance and inflationary cost pressures pose challenges. Find out why TRUMF stock''s pricing hikes and operational improvements may restore margin leverage.
TOKYO: Japan’s Nikkei share average hit a 2-1/2-month low on Thursday amid concerns over more US Federal Reserve interest rate hikes and dim outlook of China’s economy, while the yen weakening further against the dollar prompted a sell-off. The Nikkei fell 1.22% to 31,377.84 by 0157 GMT, its lowest level since June 2. The broader Topix was down 1.25% to 2,232.48. “Investors were reacting only to negative market cues - rising global yields and ongoing worries about China’s economy,” said Takehiko Masuzawa, trading head at Phillp Securities Japan. Benchmark 10-year US Treasury yields hit a fresh 10-month high during Asian trading hours, after minutes from the Fed’s July meeting showed that officials were divided over the need for more rate hikes. “The yen’s weakness to the dollar drove speculation for the government intervention. If that happens, the yen will strengthen, which is negative to Japanese equities.” The Japanese yen further weakened against the dollar on Thursday, touching its lowest since November, below the level that last year triggered intervention.