10.09.202600:39:53UTC+00Japanese Shares Drop for Third Session

The Nikkei 225 Index fell 1% to below 64,600, while the broader Topix Index lost 0.65% to 4,020 on Thursday, marking a third straight session of declines. Persistent strength in oil prices stoked inflation concerns and reinforced expectations of imminent interest rate hikes. Japanese equities also mirrored overnight weakness on Wall Street, where US Treasury yields jumped after the Treasury Department announced plans to repurchase up to $6 billion in longer-term debt—an amount that disappointed investors who had been looking for a more substantial buyback. Meanwhile, traders closely watched the yen as it climbed to its strongest level in nearly seven months. Technology and consumer names were among the notable laggards, with declines in Fujikura (-4.4%), Ibiden Co (-3.1%), Furukawa Electric (-4.9%), Nintendo (-3.8%) and Fast Retailing (-1.5%).