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Markets

Nikkei expected to post first annual decline in seven years

Abenomics loses power to drive market

The Nikkei Stock Average has sagged more than 11% since the end of last year, heading for its first yearly decline in seven years. 

TOKYO -- Tokyo's Nikkei Stock Average is set to record its first annual decline in seven years, say fund managers and strategists, after the index closed down more than 11% on Friday, compared to the end of last year.

The chances of a rally strong enough to reverse the decline were looking unlikely just four trading days away from the end of 2018, analysts said. Other Asian stocks including China, Hong Kong and South Korea are not looking much brighter. 

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