Tokyo Stocks Tumble Amid U.S. Trade Uncertainties, Firmer Yen
(MENAFN) Tokyo’s stock market slipped on Thursday, weighed down by fresh uncertainties surrounding U.S. trade policies, a firmer yen, and investors cashing in on recent market gains.
The Nikkei 225 index closed at 38,173.09, dropping 248.10 points, or 0.65%, from the previous session.
At one point, the Nikkei’s losses deepened to more than 300 points, driven by selling pressure from foreign short-term investors betting against index futures.
In the U.S., the tech-heavy Nasdaq Composite broke its four-day winning streak, while May’s consumer price index came in below expectations, fueling the yen’s rise to roughly 143 yen per dollar.
In Tokyo, worries over the yen’s appreciation damaging exporters’ competitiveness triggered selling in auto stocks, including Toyota.
The broader TOPIX index also declined for the first time in five sessions, closing 5.75 points, or 0.21%, lower at 2,782.97.
On the Tokyo Stock Exchange Prime Market, 986 shares fell, 564 advanced, and 79 remained unchanged.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
