TOKYO, March 5 (Reuters) - Japanese shares fell for a second straight session on Friday as overnight declines on Wall Street prompted domestic investors to sell index heavyweights and high-flying technology shares.
U.S. equities ended sharply lower on Thursday, leaving the Nasdaq down nearly 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields. .N Treasury yields jumped during U.S. trading hours after Powell's speech, sending the 10-year yield to top 1.5%.
"The move of the U.S. long-term bond yields is now the centre of the attention for stock investors," said Yoshihiro Takeshige, general manager at investment management department of Asahi Life Asset Management.
"If the move of yields will become out of control, Japan's market could be dragged lower led by declines in U.S. technology shares."
Heavyweights Fast Retailing 9983.T , the operator of Uniqlo clothing stores, fell 5.08%, weighing on the index the most. Chip manufacturing equipment maker Tokyo Electron 8035.T and SoftBank Group 9984.T fell 4.63% and 2.28%, each.
The underperformers among the Topix 30 were Recruit Holdings Co 6098.T , down 6.57%, followed by SoftBank Group.
There were 67 advancers on the Nikkei index against 155 decliners.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.