Nikkei 225 Leads Asian Stocks Lower On Stronger Yen

Asian stocks fell, led by a decline in Japanese shares after the yen posted its biggest advance since August against the dollar, weakening the outlook for earnings at exporters.

The MSCI Asia Pacific Index lost 0.2 percent to 138.37 as of 9:28 a.m. in Tokyo, before markets open in China and Hong Kong. Almost two shares fell for each that gained. Japan’s Topix index slid 1.1 percent as the yen traded at 102.02 per dollar. The currency strengthened 1.3 percent yesterday and touched a three-week high.

“Investors remain decidedly cautious as U.S. and global earnings momentum is slowing,” said Matthew Sherwood, Sydney-based head of investment markets research at Perpetual Ltd., which manages about $25 billion. “Japanese shares are bearing the brunt of regional declines in response to increased safe-haven flows into the yen.”


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.

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