Japan Stocks fall amid yen's rise against U.S. dollar

The Japan share market declined on Thursday, 23 January 2020, as some investors opting for profits following the market's recent rise and comparatively firm yen against the U.S. dollar. The majority of industry categories retreated into negative territory, with mining, marine transportation, and oil and coal product-linked issues being notable losers. Around afternoon, the 225-issue Nikkei Stock Average declined 153.46 points, or 0.64%, to 23,877.89, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 8.43 points, or 0.48%, at 1,735.70.

Stocks pulled back slightly as news of the Chinese virus outbreak which has killed 17 people and infected hundreds, with fears it could cause as much economic damage as the SARS epidemic that left hundreds dead in 2003.

 

The World Health Organization is to meet again today to determine whether to declare a global public health emergency over the disease, which has also been detected in Thailand, Japan, South Korea, Taiwan and the United States.

Exporters' shares declined after the safe-haven yen firmed against the dollar. The greenback was changing hands at 109.71 yen against 109.84 yen in New York yesterday. IT investor SoftBank Group fell 1.8% and Uniqlo clothing chain operator Fast Retailing dropped 1.5%. Cosmetics maker Shiseido was off 0.5% on continued fears over lower demand from Chinese tourists.

Powered by Capital Market - Live News