Tokyo stocks close down 1.85 per cent

Japanese shares fell in trading Wednesday due to the strengthening of the yen and concerns about Brexit.

The benchmark Nikkei 225 Stock Average lost 290.34 points, or 1.85 per cent, to close at 15,378.99.

The broader Topix index shed 22.44 points, or 1.79 per cent, to close the day at 1,234.20.

Traders said there was nervousness on the market due to some British property funds withdrawing their investments because of the vote in favour of leaving the European Union.

A stronger yen makes Japanese goods less competitive overseas and erodes repatriated revenues.

Last update: Wed, 06/07/2016 - 11:26
Author: 

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...