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Tokyo stocks fall on yen's rise

TOKYO
2023-12-14 17:04

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TOKYO, Dec. 14 (Xinhua) -- Tokyo stocks fell on Thursday as the yen's swift appreciation against the U.S. dollar weighed on exporter issues.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 240.10 points, or 0.73 percent, from Wednesday at 32,686.25.

The broader Topix index, meanwhile, finished 33.57 points, or 1.43 percent, lower at 2,321.35.

The U.S. dollar hit a four-month low in the upper 140 yen level Thursday in Tokyo, after the U.S. Federal Reserve hinted three interest rate reductions for 2024 after its latest policy meeting. Analysts said the Fed's projection of three rate cuts next year surprised market players who had expected a more conservative tone from the central bank.

On the top-tier Prime Market, decliners were led by transportation equipment, bank and insurance issues.

Toyota Motor fell 102.0 yen, or 3.8 percent, to 2,571.5 yen, and Mitsubishi Motors lost 30.7 yen, or 6.8 percent, to 422.1 yen.
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