Arab Today, arab today japanese stocks tumble on strong yen asia losses
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Japanese stocks tumble on strong yen, Asia losses

Arab Today, arab today

Arab Today, arab today Japanese stocks tumble on strong yen, Asia losses

Tokyo - SPA

Japanese shares plunged on Wednesday as marketsentiment was undermined by the yen's rise and losses in other Asianbourses, dpa reported.The benchmark Nikkei 225 Stock Average lost 393.72 points, or 2.59 per cent, to end at 14,830.39 while the broader-based Topix index wasdown 26.27 points, or 2.13percent,at1206.94. By midafternoon, China's Shanghai Composite Index had declined 1.1per cent and Hong Kong's Hang Seng Index had lost 1.6 per cent.In Tokyo, exporters traded broadly lower as the yen rose againstmajor currencies. A stronger yen makes Japanese goods lesscompetitive overseas and erodes repatriated earnings.On currency markets at 3 pm (0600 GMT), the dollar traded at102.92-96 yen, down from Tuesday's 5 pm quote of 103.19-20 yen.The eurowasquoted at 142.61-68 yen, down from 142.91-95 yen lateTuesday, and at 1.3854-3855 dollars, up slightly from 1.3849-3850 dollars.

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