Japanese Shares Slide as Stronger Yen Hits Exporters
The Nikkei 225 experienced a decline of 1.3%, closing at 34,280, while the broader Topix Index saw a 1.18% decrease to 2,529 on Monday. This downturn ended a two-day winning streak, largely due to the impact of a stronger yen on Japan's export-dependent industries. Investor confidence was further shaken by uncertainties related to the US-Japan trade discussions. It has been reported that Japan is contemplating the increase of soybean and rice imports as part of negotiations. Last week, US officials expressed concerns regarding Japan's trade barriers, particularly in the automotive and rice markets, and urged Tokyo to ramp up its purchases of American meat, fish, and potatoes. The downward trend was led by export-focused automobile manufacturers, with significant losses observed at Suzuki Motor, down 3.9%, and Toyota Motor, down 2.9%. Financial and retail sectors also faced setbacks, including declines in Mitsubishi UFJ by 1.9% and Fast Retailing by 1.7%.
The material has been provided by - RobotFX
Download NOW!
No comments:
Post a Comment