Japanese stocks trading lower as Yen breaks 100.0

Japan’s benchmark Nikkei index extended losses by 1 percent in choppy trade on Tuesday as nervousness set in following the dollar’s decline below the 100 yen level.

The yen rose to the 99.4 handle against the U.S. dollar after a report from the Institute for Supply Management on Monday showed activity in the U.S. manufacturing sector contracted in May.

Elsewhere, Sydney’s benchmark S&P ASX 200 index dipped 0.3 percent after a positive start and South Korea’s Kospi edged up 0.2 percent.

A late-day bounce on Wall Street was unable to propel Asian markets higher. The Nasdaq reversed its losses and the Dow Jones Industrial Average enjoyed its best session in a month.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu