Japan Stock Market Trades Low as Yen Strengthens

0
1979
Photo Wikipedia

Japan stock market has started the week with sharp falls, as a surge in the yen hurt shares in big exporting companies.

The Nikkei 225 index ended 3.1% lower at 16,174 – higher than its low point for the trading session, but still the lowest close since April 12.

Photo Wikipedia
Photo Wikipedia

Toyota shares closed down 3.8%, Nissan Motor dropped 5% and Honda Motor shed 4%.

The yen shot up after the Bank of Japan (BOJ) decided not to launch fresh economic stimulus last week.

On April 29, the yen was at about 108 yen against the dollar. It strengthened a little on May 2 to around 106.31 yen.

In South Korea the Kospi ended May 2 session lower, by 0.8% at 1,978.15 points. And that is also a three-week low.

Markets in China and Hong Kong are shut on May 2 for the Labor Day holiday.

https://www.youtube.com/watch?v=EUkl36ZUt0k

Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments