Markets & Finance around you
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Tokyo shares fall as oil tops US$100 and Japan bond yields hit 3%
Tokyo stocks closed lower on Friday, with the Nikkei briefly dropping more than 3 percent, as crude oil climbed above US$100 a barrel on Middle East supply worries and Japan's 10-year bond yield touched 3 percent. The Nikkei ended down 1,259.61 points at 64,011.34, while the Topix fell 26.28 points to 4,028.30.
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IHH unit's RM5.7bil claim against Daiichi Sankyo dismissed in Tokyo
The Tokyo District Court dismissed a damages claim by Northern TK Venture, IHH Healthcare's Singapore-based unit, against Japanese drugmaker Daiichi Sankyo. The claim, which grew from ¥20 billion to about ¥200 billion, arose from IHH's stalled plan to raise its stake in India's Fortis Healthcare. IHH said it disagrees with the ruling and is reviewing its legal options.
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Nikkei falls 0.8% as oil tops US$100 on wider Middle East war
Japan's Nikkei share average dropped 0.8 per cent to 64,597.46 in Tokyo as oil rose above US$100 a barrel amid an escalating Middle East conflict, with Iran reporting attacks on 10 ships near the Strait of Hormuz. Expectations of faster Bank of Japan rate tightening and caution ahead of US inflation data and central bank decisions also weighed on the market.