Japan Stock Market May Extend Losing Streak

(RTTNews) - The Japanese stock market has moved lower in back-to-back sessions, sinking more than 400 points or 0.8 percent along the way. The Nikkei 225 now sits just above the 53,930-point plateau and it may take further damage on Monday.

The global forecast is soft amidst ambiguity over the outlook for interest rates and ongoing geopolitical issues. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow that lead.

The Nikkei finished modestly lower on Friday following mixed performances from the financial shares, technology stocks and automobile producers.

For the day, the index slipped 174.33 points or 0.32 percent to finish at 53,936.17 after trading between 53,706.79 and 54,130.60. Among the actives, Nissan Motor accelerated 1.59 percent, while Mazda Motor dropped 0.96 percent, Toyota Motor skidded 1.18 percent, Honda Motor sank 0.94 percent, Softbank Group slumped 1.01 percent, Mitsubishi UFJ Financial advanced 0.88 percent, Mizuho Financial vaulted 1.23 percent, Sumitomo Mitsui Financial shed 0.86 percent, Mitsubishi Electric added 0.41 percent, Sony Group retreated 1.33 percent, Panasonic Holdings rallied 2.19 percent and Hitachi stumbled 2.87 percent.

The lead from Wall Street is weak as the major averages opened higher on Friday but quickly faded, hugging both sides of the line before ending slightly lower.

The Dow shed 83.07 points or 0.17 percent to finish at 49,359.33, while the NASDAQ slipped 14.61 points or 0.06 percent to close at 23,515.39 and the S&P 500 fell 4.46 points or 0.06 percent to end at 6,940.01. For the week, the NASDAQ slid 0.7 percent, the S&P dipped 0.4 percent and the Dow eased 0.03 percent.

The choppy trading on Wall Street followed remarks from President Donald Trump suggesting National Economic Council Director Kevin Hassett may not be his choice to become the next Federal Reserve chair.

Hassett had been seen as the frontrunner to replace Fed Chair Jerome Powell, whose term expires in May, but predictions now show former Fed Governor Kevin Warsh has surged into the lead following Trump's remarks - causing some uncertainty about the outlook for interest rates.

Trump's threats to take control of Greenland continue to attract attention, with the president suggesting he may impose tariffs on countries that don't go along with his plans for the territory.

Crude oil moved higher on Friday as traders weighed the continuing risks after reports that the U.S. is consolidating its forces in the Middle East. West Texas Intermediate crude for February delivery was up $0.40 or 0.68 percent at $59.59 per barrel.