Nikkei dips 0.2% as yen strengthens; Topix rises 0.7%
In mixed trade, Japan’s Nikkei 225 fell 0.2% to around 64,200 while the Topix gained 0.7% to 4,110. A stronger yen weighed on export-heavy stocks, while oil’s pullback offered support.
The Nikkei 225 Index fell 0.2% to around 64,200 while the broader Topix Index gained 0.7% to 4,110 in mixed trade on Thursday, with Japanese shares lacking clear direction as the yen suddenly strengthened amid speculation that authorities had conducted a rate check.
A stronger yen weighs on the earnings outlook for Japan’s export-heavy industries and makes domestic assets more expensive for foreign investors.
Meanwhile, equities found some support from a pullback in oil prices after President Donald Trump said the latest attacks on Iran would be short-lived.
Global bond yields also retreated from recent highs as investors continued to assess the inflation and interest rate outlook.
Among individual stocks, notable losses were recorded in tech firms such as Advantest (-1.6%), Fujikura (-1.2%) and Taiyo Yuden (-1.3%), while financial stocks gained, including Mitsubishi UFJ (1.5%), Sumitomo Mitsui (2.1%) and Mizuho Financial (1.5%).