TOKYO, Dec. 4 (Xinhua) — Tokyo shares closed decrease on Monday because the yen strengthened towards the U.S. dollar within the foreign exchange market, resulting in a sell-off in exporter-related shares, particularly within the automotive sector.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 200.24 factors, or 0.60 %, from Friday to shut the day at 33,231.27.
The broader Topix index, in the meantime, completed 19.87 factors, or 0.83 %, decrease at 2,362.65.
Amid hypothesis concerning the U.S. Federal Reserve’s potential halt to rate of interest hikes and a narrowing Japan-U.S. rate of interest differential, the yen strengthened to its highest stage in roughly three months within the early hours of the Tokyo foreign exchange market.
Meanwhile, market watchers right here famous that extreme optimism concerning the future earnings of export-related shares waned, leading to important sell-offs in firms similar to Toyota, Denso, and Honda.
On the top-tier Prime Market, decliners have been led by transportation tools, mining and financial institution points.
Issues that declined outpaced people who rose by 907 to 699, whereas 52 ended the day unchanged.