TOKYO, Dec. 16 (Xinhua) -- Japan's benchmark Nikkei stock index closed at its lowest in more than a month on Friday, dragged down by Wall Street's drop overnight, as interest rate hikes by major central banks raised concerns over an economic slowdown.
The 225-issue Nikkei Stock Average fell 524.58 points, or 1.87 percent, from Thursday to close the day at 27,527.12, marking its lowest closing level since Nov. 10.
The broader Topix index finished 23.69 points, or 1.20 percent, lower at 1,950.21.
Local brokers said that the European Central Bank (ECB) and the Bank of England (BOE) both raising their key interest rates on Thursday to combat inflation added to fears of an economic slowdown as a result of major central banks' ongoing monetary tightening in the U.S. and Europe.
U.S. retail and industrial output data for November coming in lower than expected added to concerns over a slowdown and in particular, the U.S. economy slipping into a recession after its hawkish outlook a day earlier, market analysts here said.
"The weak retail data hit the market just when the Fed, ECB and BOE displayed hawkish stances simultaneously. It was bad timing. I feel shares are falling more than they should be," Hirokazu Kabeya, chief global strategist at Daiwa Securities Co., was quoted as saying.
By the close of play, nonferrous metal issues comprised those that declined the most.
Nikkei heavyweight Fast Retailing, owner of the Uniqlo chain of clothing stores, dragged the broader market lower, dropping 3.5 percent.
Following the tech-heavy Nasdaq's overnight plunge, technology issues here came under pressure, with chip-manufacturing equipment maker Tokyo Electron losing 4.5 percent, while Advantest dropped 3.1 percent.
Technology investor SoftBank Group, meanwhile, ended the day 3.8 percent lower.
Toshiba was a notable winner, however, adding 2.1 percent, after reports that Japan Industrial Partners looks likely to secure 1.2 trillion yen (8.7 billion U.S. dollars) from domestic banks to finance a buyout for the conglomerate.
Issues that fell outpaced those that rose by 1,493 to 290, while 56 ended the day unchanged.
On the Prime Market on Friday, 1,384.13 million shares changed hands, rising from Thursday's volume of 913.76 million shares.
The turnover on the final trading day of the week came to 3,426.81 billion yen (24.99 billion dollars).
