• Stocks were further lower before the release of jobs statistical data by the US.
• Japan’s Nikkei index was down 0.16 percent, or 45.40 points, at 27,616.07 at the halfway point of the day.
• The yen hit a new 24-year low versus the dollar at 139.98, down from 140.20 overnight in New York.

Prior to the release of US jobs statistics later in the day, Tokyo equities declined on Friday morning.

The Nikkei 225 index, the industry standard, was down 0.16 percent, or 45.40 points, at 27,616.07 at the halfway point of the day, while the Topix index, which is more inclusive, was down 0.55 percent, or 10.56 points, at 1,924.93.

The yen hit a new 24-year low versus the dollar at 139.98, down from 140.20 overnight in New York.

Prior to jobs data that is anticipated to reinforce the US Federal Reserve’s commitment to monetary tightening, bargain-hunting helped the Dow and S&P 500 end a four-day losing skid on Wall Street.

“Trade in the Japanese market is likely to lack a sense of direction… ahead of US jobs data and the European Central Bank board meeting next week,” Okasan Online Securities said.

“Unless we see a break in the upward trend for US 10-year treasury yields, it will be difficult to actively pour money into the stock market,” the brokerage added.

Okasan claimed that while bargain-hunting offered some support for shares, market pressures from US-China tensions and persistent concerns over the global chip shortage were dragging on the market.

Following news that Nippon Steel and Toyota had reached an agreement on a significant price hike for steel goods, the steel maker’s stock price fell 1.30 percent to 2,207.5 yen.

Honda increased 0.14 percent to 3,660 yen while Toyota decreased 0.29 percent to 2,046.5 yen and its smaller rival Nissan decreased 1.21 percent to 540.4 yen.

Sony Group was down 1.23 percent at 10,865 yen, Panasonic was down 0.89 percent at 1,116.5 yen, and Murata Manufacturing was down 0.69 percent at 7,318 yen. Electronics as a whole were mainly down.

Fast Retailing, the Uniqlo operator, increased 1.56 percent to 82,020 yen, and Nippon Yusen, a shipping company, increased 0.48 percent to 10,420 yen.

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