Japan Stocks May Drop on U.S. Inflation Concern; Inpex May Fall
By Patrick Rial
Sept. 15 (Bloomberg) -- Japanese stocks may decline after a measure of U.S. import prices exceeded expectations, increasing speculation inflation concerns will lead the Federal Reserve to raise interest rates, curbing spending. Sony Corp. may drop.
Energy companies including Inpex Holdings Inc. may slip after oil fell to a five month low in New York, reducing earnings.
``The U.S. import price index was fairly high, which increases inflationary pressure,'' said Soichiro Monji, who helps oversee $47 billion as equity strategist at Daiwa SB Investments Ltd. in Tokyo. ``Oil's drop will drive a sell-off of trading and oil-related companies today.''
Nikkei 225 Stock Average futures expiring in December last traded at 15,850 in Chicago, down from 15,900 in Osaka and Singapore yesterday. The Bank of New York Japan ADR Index, which tracks the nation's American depositary receipts, was little changed at 112.86.
Yesterday, the Nikkei added 1.2 percent to 15,942.39 and the broader Topix index advanced 0.9 percent to 1598.13, snapping a three day losing streak.