Japan’s Nikkei index closed decrease for a sixth consecutive session on Wednesday, weighed down by blended outcomes for main American know-how corporations and the continued rise of the yen.
The Nikkei index fell 1.11% to its lowest closing stage in a month at 39,154.85 factors, additionally recording its longest dropping streak since October 2021.
The general Topix index fell 1.42% to 2,793.12 factors
In the meantime, the yen rose to a 7-week excessive of 154.36 per greenback on Wednesday, as markets anticipated a 56% probability of an rate of interest hike on the Financial institution of Japan’s July 30-31 financial coverage assembly.
A stronger yen would damage the shares of exporting corporations, because the rise of the yen reduces the worth of the earnings made in foreign exchange when corporations transfer them to Japan.
2024-07-24 09:50:03
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