Asian markets recorded losses on Friday after disappointing closure of Wall Street on Thursday, with the indexes losing their gains in the last hour of trading to end the trading at the low of the day.
The Japanese Nikkei 225 index fell 0.9% to 27,522.26 units with the title of Toyota Motor Corp. to fall 2.5% after the announcement of the car industry that it will proceed with cuts in its production due to shortages in supply.
Toyota has announced that it will suspend production at 11 plants in Japan for three days, and plans new cuts in February. As production declines, the automaker is expected to lose design for 9 million vehicles a year by March, despite healthy demand.
In Hong Kong the Hang Seng index fell 0.4%, while in mainland China the Shanghai Composite lost 0.8%.
South Korea’s Kospi fell 1%, while in Australia the S & P / ASX 200 plunged 2.3%. Indices in Taiwan and Singapore are also falling.
The yield on the 10-year US fell to 1.79% from 1.83% on Thursday night. Bond yields have rallied since the beginning of the year as investors prepare for a more restrictive monetary policy this year, with the US Federal Reserve raising interest rates four times, analysts say.