TOKYO, July 7 (Xinhua) -- Tokyo stocks closed lower for the fourth consecutive day on Friday as fears of further U.S. rate hikes strengthened ahead of the employment data release.
Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average dropped 384.6 points, or 1.17 percent, from Thursday to close the day at 32,388.42.
The broader Topix index, meanwhile, lost 22.18 points, or 0.97 percent, to finish at 2,254.90. Machinery, real estate and transportation equipment issues saw the biggest losses on Friday.
The decline in the U.S. stock market overnight, driven by speculation of prolonged U.S. monetary tightening, led to selling pressure in the Tokyo market.
Downward trend in other Asian stock markets and the anticipation of U.S. employment data also deterred investors from making purchases.
A report from private payroll processor ADP Research Institute suggested hiring by U.S. private employers was much stronger last month than expected, reinforcing views that the Federal Reserve would resume raising interest rates this month.
The closely watched nonfarm payrolls report is due later on Friday.
On the Prime Market, issues that fell outpaced those that rose by 1,312 to 456, while 67 ended the day unchanged. The turnover on the market came to 3,813.1 billion yen (26.6 billion U.S. dollars). ■