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Tokyo stocks close sharply lower on yen's rise after Fed meeting outcome

Xinhua News,TOKYO
2020-06-11 15:49

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TOKYO, June 11 (Xinhua) -- Tokyo stocks closed sharply lower Thursday, as the yen's rise against the U.S. dollar after the U.S. Federal Reserve forecast no further interest rate increases through 2022, dented exporter issues, while investors also took profits amid signs the market may be overheating.

The 225-issue Nikkei Stock Average dropped 652.04 points, or 2.82 percent, from Wednesday to close the day at 22,472.91.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 35.79 points, or 2.2 percent, to finish at 1,588.92.

Marine transportation, air transportation and insurance-oriented issues comprised those that declined the most by the close of play.
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