Japanese Stocks Decline, Led by Exporters as Yen Holds Gains
- Electric-appliance makers, car builders are biggest drags
- Investors await G-7, clarity on timing of next Fed rate hike
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Japanese stocks fell for a second day, led by electric-appliance makers and car builders, as the yen held gains against the dollar, damping the outlook for export earnings.
The Topix index sank 0.9 percent to 1,326.50 at the close in Tokyo as more than two shares declined for each that rose. The Nikkei 225 Stock Average dropped 0.9 percent to 16,498.76. The yen traded at 109.27 per dollar after strengthening 0.8 percent on Monday following talks by Group of Seven finance ministers on currency intervention that disappointed some investors.