TOKYO, Dec. 8 (Xinhua) — Tokyo shares closed decrease on Friday, as yen surged towards the U.S. dollar, bringing laborious hit on export-related points.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 550.45 factors, or 1.68 p.c, from Thursday to shut the day at 32,307.86, marking the bottom degree in a month.
The broader Topix index, in the meantime, completed 35.44 factors, or 1.50 p.c, decrease at 2,324.47.
In the foreign exchange market on Friday, the yen briefly surged to the mid-142 degree towards the U.S. dollar on expectations of Bank of Japan (BOJ)’s coverage shift, amid mounting issues over the upcoming U.S. employment statistics for November, market watchers right here identified.
There can also be a rising consciousness that the Bank of Japan could take into account lifting damaging rates of interest throughout its monetary coverage assembly scheduled for later this month, particularly given the potential of a sustained rise within the yen as a consequence of a narrowing Japan-U.S. rate of interest differential, in line with native analysts.
Meanwhile, the market was additionally pushed down by auto-related shares amid issues of degradation within the profitability of exports.
On the top-tier Prime Market, decliners had been led by transportation equipment, rubber merchandise, and mining points.
Issues that declined outpaced people who rose by 1,408 to 230, whereas 22 ended the day unchanged.