TOKYO, Dec. 14 (Xinhua) — Tokyo shares fell on Thursday because the yen’s swift appreciation in opposition to the U.S. dollar weighed on exporter points.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 240.10 factors, or 0.73 %, from Wednesday at 32,686.25.
The broader Topix index, in the meantime, completed 33.57 factors, or 1.43 %, decrease at 2,321.35.
The U.S. dollar hit a four-month low within the higher 140 yen stage Thursday in Tokyo, after the U.S. Federal Reserve hinted three rate of interest reductions for 2024 after its newest coverage assembly. Analysts mentioned the Fed’s projection of three charge cuts subsequent 12 months stunned market gamers who had anticipated a extra conservative tone from the central financial institution.
On the top-tier Prime Market, decliners had been led by transportation tools, financial institution and insurance coverage points.
Toyota Motor fell 102.0 yen, or 3.8 %, to 2,571.5 yen, and Mitsubishi Motors misplaced 30.7 yen, or 6.8 %, to 422.1 yen.