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Japan's Nikkei falls for seventh day as yen's rally bites

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[hfe_template id='11223'] [ad_1] Japan's Nikkei share average fell for a seventh straight session amid widespread losses on Wednesday, as the yen's rally to its strongest against the dollar this year weighed. The Nikkei closed down 1.5% at 35,619.77, after slumping over 2% to brush near Monday's one-month intraday low of 35,247.87. The broader Topix fell 1.8% to end the session at 2,530.67. The dollar dropped as much as 1.24% to 140.71 yen, a level not seen since Dec. 28, before trading at 141.16 yen as of 0547 GMT, following the U.S. presidential debate and remarks by Bank of Japan board member Junko Nakagawa. A stronger yen tends to hurt exporter shares as it decreases the value of overseas profits in yen terms when firms repatriate them to Japan. Shares of exporters slid, with the underperformance of automakers standing out. Toyota Motor stumbled 3.1%, while Subaru Corp declined over 4% and Honda Motor slid 3%. Losses broadened in afternoon trade, with ...

Japan's Nikkei ends lower as stronger yen, chip losses weigh

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[hfe_template id='11223'] [ad_1] Japan's Nikkei share average fell in choppy trade on Thursday, weighed down by a stronger yen and losses in semiconductor-related stocks, while investors await U.S. non-farm payroll data to gauge the strength of the world's largest economy. The Nikkei closed at its lowest level since Aug. 14, dropping 1% to 36,657.09, its third consecutive session of losses. The broader Topix erased early gains to end 0.5% lower at 2,620.76. The yen touched a one-month high of 143.20 earlier in the session, and has strengthened 1.8% so far this week. A stronger local currency tends to hurt exporter shares as it decreases the value of overseas profits in yen terms when firms repatriate them to Japan. "The labour data out so far this week has not really cooled concerns about the U.S. economy, and there is a slight tilt towards expecting the Fed's first rate cut to be of a larger magnitude," making the dollar/yen prone to more slides,...