Japanese stocks plunge on stronger yen

Japanese shares plummeted more than 2 per cent Thursday for the second straight day of decline with export-linked issues dragged down by the yen’s sharp rise against major currencies.

The benchmark Nikkei 225 Stock Average lost 393.18 points, or 2.32 per cent, to close at 16,562.55 after falling as much as 2.54 per cent.

The broader Topix index fell 30.26 points, or 2.22 per cent, at 1,331.81.

On currency markets at 3 pm (0600 GMT), the dollar traded at 109.11-12 yen, down sharply from Wednesday’s 5 pm quote of 110.05-06 yen.

The euro was quoted at 122.19-20 yen, down from 122.73-77 yen late Wednesday.

Last update: Thu, 02/06/2016 - 10:59

More from Business

Financial leaders in Davos optimistic about US, but see trade risk

The US economy will likely profit from the planned policies of its new president, as long as Donald Trump does not...

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...