Nikkei Down 3.7 Percent, Yen Back Under 100

The Nikkei index fell over 3.7 percent to its lowest level in more than a month Monday in Tokyo, amid caution over the possible scaling down of U.S. stimulus measures.

The 225-issue Nikkei Stock Average closed down 512.72 points, or 3.72 percent, from Friday at 13,261.82, the lowest closing mark since April 18. It was the third largest point fall this year.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 38.83 points, or 3.42 percent, at 1,096.95.

All 33 sectors declined, led by securities, real estate and consumer finance issues.

The Nikkei stayed weak throughout the session amid ongoing jitters about recent turbulence in the market and accelerated its downswing toward the closing bell as the dollar dropped from the upper 100 yen range to the lower 100 yen level, brokers said.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza