(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Jan 17 (KUNA) -- Tokyo stocks continued to fell Tuesday, with a key index ending below the psychologically important 19,000 mark for the first time in five weeks on going concern over the Brexit and the higher yen.
The 225-issue Nikkei Stock Average on the Tokyo Stock Exchange (TSE) lost 281.71 points, or 1.48 percent, from Monday to 18,813.53, its lowest finish since December 8.
It marked the biggest one-day drop since the beginning of the so-called "Trump rally" in early November. The broader Tokyo Stock Price Index, which includes all shares on the TSE's first section, was also down 21.54 points, or 1.41 percent, to 1,509.10, with all 33 subindexes on the TSE losing ground.
Sell orders overwhelmed Tokyo stocks ahead of a speech by British Prime Minister Theresa May later in the day on her government's plans for negotiations over its exit from the European Union. The yen's strength against the dollar also led investors to sell export-oriented issues, as the stronger yen cuts the value of Japanese exporters' overseas sales when converted back into local currency. In the currency markets, at 4:25p.m. (0725 GMT), the US dollar traded at JPY 113.53-54 versus JPY 114.07-09 in Tokyo at 05:00 p.m. Monday. (end) mk.gta
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.