Nikkei sinks to near three-week low on firmer yen

 

Japan's Nikkei share average slid 3% to a near three-week low on Friday, with blue-chip exporters and financials leading declines on the back of a stronger yen and profit-taking.

 

The Nikkei closed down 432.95 points at 14,129.98 after dropping as low as 14,114.52 earlier, its lowest level since July 8. The benchmark shed 3.2% on the week, snapping a five-week winning streak.

 

The broader Topix shed 2.9% to 1,167.06, with investors taking profits ahead of the peak of the corporate earnings season. All of its 33 sub-sectors finished the day in negative territory.