Topix Drops as Yen Gain Weighs on Exporters
Bloomberg, (30/5) -- Japanese stocks fell, with the Topix index heading
for its first monthly decline since the rally started in November, as a
stronger yen weighed on exporters.
The Topix sank 1.7 percent to 1,158.16 as of 9:52 a.m. in Tokyo. All 33 industry groups dropped. The measure is headed for a 1 percent drop this month, the first monthly decline since the start of rally that’s boosted the gauge about 60 percent. Shares have risen amid confidence that Prime Minister Shinzo Abe will end 15 years of deflation.
The Nikkei 225 Stock Average lost 2.3 percent to 13,994.51 today on volume 10 percent above the 100-day intraday average. The gauge lagged behind the Topix as Fast Retailing Co., which accounts for about 10 percent of the benchmark, declined 5 percent.
The Topix sank 1.7 percent to 1,158.16 as of 9:52 a.m. in Tokyo. All 33 industry groups dropped. The measure is headed for a 1 percent drop this month, the first monthly decline since the start of rally that’s boosted the gauge about 60 percent. Shares have risen amid confidence that Prime Minister Shinzo Abe will end 15 years of deflation.
The Nikkei 225 Stock Average lost 2.3 percent to 13,994.51 today on volume 10 percent above the 100-day intraday average. The gauge lagged behind the Topix as Fast Retailing Co., which accounts for about 10 percent of the benchmark, declined 5 percent.
Komentar