World

Tokyo stocks end lower as stronger yen weighs

TOKYO
2024-07-24 16:49

Already collect



TOKYO, July 24 (Xinhua) -- Tokyo stocks ended lower Wednesday on a stronger yen, with the Nikkei benchmark extending its decline to a sixth straight day of losses in its longest losing streak since October 2021.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 439.54 points, or 1.11 percent, from Tuesday at 39,154.85, its lowest closing since June 24.

The broader Topix index, meanwhile, finished 40.27 points, or 1.42 percent, lower at 2,793.12.

Rising speculation that the Bank of Japan could lift interest rates at a two-day policy meeting starting next Tuesday fueled yen buying and drove down equities, leading market participants to further seek out the yen, perceived as a safe-haven asset, analysts said.

The yen briefly strengthened to the lower 154 range against the U.S. dollar, its highest since mid-May, stirring selling of export stocks such as automakers and electronics firms, dealers said.
Add comments

Latest comments

Latest News
News Most Viewed