Japanese stocks fall 2.2% as Warsh speech lifts U.S. rate prospects

  • Japanese stocks declined after Kevin Warsh’s speech raised prospects for U.S. rate increases.
  • Nikkei Stock Average fell 2.2% to 64930.03 at 0014 GMT.
  • U.S. forces attacked two Iranian rocket launchers in the Strait of Hormuz on Sunday.

Japanese stocks declined at 0014 GMT after Fed Chair Kevin Warsh’s Friday speech increased prospects for U.S. rate increases. Chip-related shares led the retreat, with Advantest falling 7.8%, SoftBank Group dropping 4.2% and Tokyo Electron losing 3.8%. The Nikkei Stock Average was down 2.2% at 64930.03. The dollar rose to 160.00 yen from Y159.48 at Friday’s Tokyo stock-market close. Investors were also watching developments in the Iran war and oil prices after U.S. forces attacked two Iranian rocket launchers in the Strait of Hormuz on Sunday.

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Japanese stocks fall 2.2% as Warsh speech lifts U.S. rate prospects - CoinPost Terminal