Japan Nikkei Staggered by US Rate Hike Crisis

Japan's stock market fell sharply on Monday, April 25, 2022, following a sparse lead amid growing concerns about a significant rate hike by the US Federal Reserve Board for the second straight day. 

Of the 33 TSE issuances, a total of 32 were closed, with the worst-performing sectors being mining, Marine Transportation, non-ferrous metals, aviation, machinery, steel, petroleum, and coal products.

Nissan's stock fell by more than 5% due to reports that its major shareholder, Renault SA, is considering the possibility of selling the stock.

The International Monetary Fund's Japan said on Sunday that a fall in the exchange rate of the Japanese currency, yen against the US dollar, and other currencies could hinder the Japanese economy by raising import costs and damaging personal consumption. Over the last few weeks, the yen has fallen from 115 yen in February to nearly 128 yen against the greenback.