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Tokyo stocks fall on Middle East tensions

TOKYO
2024-04-15 16:59

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TOKYO, April 15 (Xinhua) -- Tokyo stocks ended lower on Monday as a wide range of issues were sold on global economic instability after an escalating conflict in the Middle East kept traders on edge.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 290.75 points, or 0.74 percent, from Friday at 39,232.80.

The broader Topix index, meanwhile, finished 6.44 points, or 0.23 percent, lower at 2,753.20.

Stocks were lower from the outset, with the Nikkei briefly losing over 700 points amid concerns over heightened geopolitical risks in the Middle East after Iran's retaliatory attack on Israel raised fears of a wider regional conflict, but the downside was capped as the yen's depreciation supported export-oriented issues, analysts said.

The Japanese currency, which has been on a downward trend, weakened to around 153.70 versus the U.S. dollar in Tokyo on Monday, a level not seen since 1990.
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