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Japan's Nikkei posts first weekly drop in five as tech drags

TOKYO, Dec 01 (Business Times) - Japan's Nikkei share average drifted lower on Friday (Dec 1) to post its first weekly drop in five, as tech shares slumped on elevated bond yields after economic data provided more clues that the US Federal Reserve could end rate hikes.

Technology companies tend to be highly leveraged, making them sensitive to changes in interest rates.

The Nikkei ended the day 0.17 per cent lower at 33,431.51, and lost 0.58 per cent this week.

The biggest gainers of the session on the Nikkei 225 were Mitsui Engineering & Shipbuilding (TYO:7003), which rose 5.34% or 29.00 points to trade at 572.00 at the close. Seven & i Holdings Co., Ltd. (TYO:3382) added 5.31% or 292.00 points to end at 5,787.00 and Trend Micro Inc. (TYO:4704) was up 4.51% or 339.00 points to 7,853.00 in late trade.

Biggest losers included Rakuten Inc (TYO:4755), which lost 4.39% or 25.70 points to trade at 560.00 in late trade. Taiyo Yuden Co., Ltd. (TYO:6976) declined 3.63% or 139.00 points to end at 3,695.00 and CyberAgent Inc (TYO:4751) shed 3.11% or 27.80 points to 866.80.

What Is Sanaenomics?

The economic policy bannered by Prime Minister Takaichi as “Sanaenomics” is beginning to take shape, with expectations centering on lower gasoline prices and the restart of electricity and gas subsidies even as critics say the program’s substance remains unclear and insufficiently developed; framed as a successor to Abenomics with greater emphasis on growth strategy, the plan raises questions about what will change in people’s daily lives and how the administration intends to run policy behind the scenes.

Crimes by U.S. Military Personnel Hit Record High in Okinawa

The number of U.S. military personnel arrested for criminal offenses in Okinawa has reached 77 so far this year, already surpassing the record total for all of 2024 as of the end of September.

Japan to Tighten Visa Rules on Foreigners Behind on Health Insurance

The Ministry of Health, Labour and Welfare plans to introduce a new system starting in June 2027 that will, in principle, deny changes or renewals of residence status for foreign residents who fail to pay their national health insurance premiums despite repeated requests for payment.

New Typhoon is Forming, Okinawa Could Be Affected Next Week

As of November 4th, the Japan Meteorological Agency announced that a tropical depression near the Caroline Islands is expected to develop into a typhoon within the next 24 hours. The system is separate from Typhoon No. 25 (Haiyan) currently near the Philippines and is projected to move northwestward once it intensifies.

Akita Woman Becomes 13th Bear Victim

Japan’s record-breaking bear crisis has entered a new and deadly phase, with authorities confirming that a 79-year-old woman missing in Akita Prefecture was found dead in the mountains, believed to be the 13th fatality from bear attacks this year.

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