Tokyo stocks close lower as yen rises – Gulf Today

SourceGulf Today
SectorFinancial Markets
CountryGulf

Picture used for illustrative purpose. File Tokyo stocks closed lower on Wednesday, with investor sentiment dampened by a strong yen and declines on Wall Street. The key Nikkei 225 index fell 1.15 per cent, or 260.27 points, to 22,397.11, extending its losing streak for a fourth trading day. The broader Topix index dropped 1.28 per cent, or 20.08 points, to 1,549.04. "The yen's rise is one negative factor" although the current rates were not yet at a devastating level for Japanese exporters, said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute. "The drops in US stocks weighed more heavily on sentiment... The market would need fresh positive news to stage a rebound," he told AFP, citing progress on developing vaccines for the new coronavirus as an example. Wall Street stocks finished decisively...read more...