Japan’s Nikkei skids as bets of US rate hike grow

Japan’s Nikkei skidded on Friday, wiping out this week’s gains amid an otherwise subdued Asian session, after weaker-than-expected spending data underscored the scourge of inflation as bets grew that the Bank of Japan would hike interest rates.The Nikkei 225 fell 1.5 per cent and was on track to end the week mostly flat. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 per cent but was still set for a gain of 0.5 per cent for the week.Data showed household spending in Japan unexpectedl ...