TOKYO, Aug. 17 (Xinhua) — Tokyo shares continued to fall on Thursday, monitoring in a single day declines on Wall Street amid concern over continued U.S. rate of interest hikes.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, hit its lowest since June 2 by dropping 140.82 factors, or 0.44 %, from Wednesday to shut at 31,626.
The broader Topix index, in the meantime, completed 7.78 factors, or 0.34 %, decrease at 2,253.06.
After the minutes of the Federal Reserve’s July coverage assembly sparked hypothesis about further financial tightening, the U.S. long-term rates of interest surged, pushing the worth of the dollar to a nine-month excessive in Tokyo on the mid-146 yen stage, in accordance with merchants.
Although Japan’s finance minister said earlier this week that Japan will take “appropriate” motion in response to extreme actions in overseas alternate charges, the yen has been depreciating in opposition to the dollar and has surpassed the degrees that prompted a yen-buying intervention by Japanese authorities final September.
On the Prime Market, decliners had been led by precision devices, wholesale commerce, and iron and metal shares.
Issues that declined outpaced people who rose by 1,214 to 561, whereas 60 ended the day unchanged.