Thursday, 17th June 2010
In Business In Japan,
Japanese stocks fall due to strong yen
The strong yen has once again impacted Japanese shares and seen stock value fall, it has been reported.
The falls were also caused by profit taking and the sale of many shares by investors keen to benefit from five days of gains on a number of indexes. In trading today (June 17th), shares on the Nikkei 225 Stock Average fell to less than 10,000, a drop of some 67.75 points, reported the Deutsche Presse-Agentur.
As well as this, the Topix index plummeted by 4.9 points, which is more than 0.55 per cent.
A strong yen often makes Japanese export products less attractive to overseas buyers and therefore, stock value can often be impacted by a firm currency.
Japan is currently struggling with a number of economic issues, as it continues to feel the impact of its deepest recession since the end of the second world war. Deflation has also been a problem in the Asian economy for some time.
Written by Mark Smith.