The Nikkei 225 Index tumbled by 0.95% to close at 8,983.78 on Thursday. Easing hopes that the Fed will loosen its monetary policy as well as bigger-than-expected slump in Japan's retail sales in July created heavy pressure on the Japanese equities. Concerns that China will not embark on monetary easing because of high inflation rate also weighed on Nikkei average. Only two industries within the index surged. Utilities and telecommunications rose by 0.69% and 0.87%. Osaka Gas gained 0.89% while Softbank advanced by 1.58%. Sending Nikkei Index lower, technology and financial stocks retreated by 1.65% and 1.51%. Canon and TDK dropped by 2.83% and 2.08% while Aozora Bank and Shinsei Bank slid by 3.36% and 1.05%. Basic materials also moved lower. Komatsu and Hitachi Construction Machinery fell by 3.85% and 2.56% on concerns that miners will cut capital expenditures on weak base metals' prices.