Japan's Nikkei slumps to weekly loss despite softer yen
bank policy decisions weighed.
The Nikkei closed 0.29% lower at 38,701.90, bringing it to a weekly decline of 1.66%, its steepest decline since early-November.
The broader Topix lost 0.44%, and fell 1.19% for the week, the index's sharpest weekly drop since mid-October. Stocks drew little support from the Bank of Japan's (BOJ) decision to not hike interest rates on Thursday or from Governor Kazuo Ueda's news conference where he said considerable time was required to judge the outlook for domestic wages and overseas economies, chiefly the U.S.
This came after the U.S. Federal Reserve signalled a more cautious pace of rate cuts in 2025, after trimming rates by a quarter point on Wednesday.
That sent the U.S. S&P 500 diving almost 3%, its biggest single-day decline since early August.
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