JAPAN – Japan’s Nikkei average fell on Friday as Wall Street’s weak performance continued and oil-linked stocks led the broader decline as crude prices fell.
The benchmark Nikkei <.N225> was down 2.3 percent at 21,382.62 points, with weekly losses at 8.1 percent.
The broader TOPIX index was down 1.9 percent at 1,731.97 points, with a weekly loss of 7.1 percent.
Japanese stocks suffered the biggest loss since June 2016 in points, with the Nikkei down 4.7 percent.
Losers beat 524 to 117 in the day, while 33 stocks made little change. All sectors fell.
The oil and coal index fell 4.9 percent, while the mining sector lost 5.4 percent.
Oil prices fell for a sixth day on Friday after Iran announced plans to boost output as US crude oil production hit record highs, fueling fears of a sharp rise in global supplies.
Shares in Nissan Motor fell 3.1 percent after the automaker said on Thursday third-quarter profit fell half-year-on-year, weighed down by costs arising from improper internal inspection at home and rising rivalries in the United States.
Shares in Nikon rose 3 percent after the company announced earnings and optimistic outlook.