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Tuesday, 13th July 2010
In Business In Japan,

Japanese stocks fall on strong yen and China demand

Shares on the Japanese Nikkei index fell yesterday (July 12th) on the back of a strong yen and worries that demand for products in China may decline.

China announced it is not planning to relax stringent property measures currently in place aimed at stabilising its market including lending policies designed to lower the amount of speculative investment in its lively property sector.

This news saw the price of both steel and iron fall rapidly on the Japanese stock market.

The Nikkei eventually closed down 0.1 per cent and the broader Topix index fell by 0.4 per cent by the end of the day.

Stocks were also pushed down by a strong yen, which often sees demand for Japanese exports drop as buyers cannot secure as good a deal as they may be looking for.

Japan is struggling with high levels of national debt following its deepest recession since the second world war - its debt is now twice as large as its annual economic output.

Written by Mark Smith.

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