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

Trump's sons in Dubai to launch golf course

The two eldest sons of US President Donald Trump were in Dubai on Saturday to open the 18-hole Trump International...

Croatian food company Podravka opens EUR 4 mn factory in Tanzania

The Croatian food company Podravka on Wednesday opened a food seasonings factory in Tanzania worth four million...

Lufthansa reaches settlement with pilots' union in salary dispute

German airline Lufthansa and pilots' union Vereinigung Cockpit have agreed to a settlement proposed in mediation,...

OPEC members produced less oil than production limit in January

OPEC members have more than fulfilled their plan to lower its oil output in January, according to a report that the...

Ford set to invest in artificial intelligence company Argo AI

Motor company Ford announced Friday it would invest 1 billion dollars in new artificial intelligence company Argo AI...