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Japan's Nikkei falls after Wall Street's weak finish
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Japan's Nikkei falls after Wall Street's weak finish
Oct 7, 2024 6:50 PM

TOKYO, Oct 8 (Reuters) - Japan's Nikkei share average

retreated on Tuesday, weighed down by Wall Street's weak finish

overnight and rising U.S. yields on reduced bets of another

large rate cut following Friday's strong jobs report.

The Nikkei was down 0.8% at 39,016.79, as of 0008

GMT, after closing 1.8% higher on Monday. The broader Topix

was down 0.98% to 2,712.59.

Wall Street's three major indexes closed down around 1% on

Monday while Treasury yields rose, as traders tamped down bets

for Federal Reserve interest-rate easing and worried about the

Middle East conflict's impact on oil prices.

U.S. Treasury yields climbed, with the yield on the

benchmark 10-year note rising to its highest since Aug. 1.

Technology start-up investor SoftBank Group fell

2.12% to drag the Nikkei the most. Uniqlo brand owner Fast

Retailing ( FRCOF ) slipped 0.63%.

All but four of the Tokyo Stock Exchange's 33 industry

sub-indexes fell, with the brokerage sector declining

1.87% to become the worst performer.

(Reporting by Junko Fujita; Editing by Subhranshu Sahu)

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