Yen Benefits as Stock-Market Losses Drive Appetite for Havens
- Japanese currency climbs against most major counterparts
- China growth concern, Middle East troubles damp global stocks
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The yen advanced against 15 of its 16 major counterparts as stock markets struggled to shrug off Monday’s rout, spurring demand for haven investments.
Japan’s currency surged the most against the Swedish krona and the New Zealand dollar and climbed to a nine-month high versus the euro even as China moved to support its equities market. The Asian nation’s CSI 300 Index eked out a gain, while the Stoxx Europe 600 Index closed the day higher.