Technology Stocks Lead Japan Market Lower as Volatility Rises
- Nikkei Volatility Index jumps 16 percent, most in three months
- Mizuho sees growth stocks being sold, value shares bought
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Stocks in Japan declined, led by electronic makers and technology companies, following the biggest selloff on the S&P 500 Index in six weeks as investors assessed the prospects that central banks worldwide are turning hawkish.
Nintendo Co., SoftBank Group Corp. and Sony Corp. were among the biggest drags on the Topix index. A gauge that measures fluctuations in Nikkei 225 Stock Average constituents jumped 16 percent, the most in three months, after volatility in U.S. equities surged as much as 51 percent on Thursday when the yield on the 10-year Treasury note topped 2.29 percent for the first time in a month. The dollar remained weaker against the yen into a third day.