Overview
- Japan’s Nikkei 225 fell for a second session on January 16, closing down 174.33 yen at 53,936.17.
- Market breadth weakened as TOPIX slipped 10.30 points to 3,658.68 on heavy turnover of about 2.414 billion shares.
- Selling reflected investors locking in gains after the early-week rally driven by the so-called Takaichi trade.
- In the United States, the Dow closed down 83.11 points at 49,359.33 as long-term yields rose on uncertainty over the next Federal Reserve chair.
- President Trump said he wanted NEC chair Hasset to stay in his current role, a comment viewed as reducing Hasset’s Fed prospects and reinforcing the move higher in yields.