Tokyo's benchmark Nikkei Stock Average fell more than 2 percent on Monday, following weakness in US stocks and gains in the yen.
The Nikkei index lost 868 points, or 2.2 percent, to close at 38,820. It lost nearly 1,200 points at one stage in the day. Semiconductor, automobile and electronics shares led the losers in a broad-based sell off.
The yen gained against the dollar after the US unemployment rate rose in February. That added to speculation the Federal Reserve may cut interest rates this year.
There is also growing expectation the Bank of Japan is set to shift monetary policy, including an end to negative interest rates that had weakened the yen.
The Nikkei 225 set a record high above 40,000 points a week ago, but it has since lost steam to profit-taking and interest rate uncertainty.
The Nikkei index lost 868 points, or 2.2 percent, to close at 38,820. It lost nearly 1,200 points at one stage in the day. Semiconductor, automobile and electronics shares led the losers in a broad-based sell off.
The yen gained against the dollar after the US unemployment rate rose in February. That added to speculation the Federal Reserve may cut interest rates this year.
There is also growing expectation the Bank of Japan is set to shift monetary policy, including an end to negative interest rates that had weakened the yen.
The Nikkei 225 set a record high above 40,000 points a week ago, but it has since lost steam to profit-taking and interest rate uncertainty.
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Summary
Tokyo's Nikkei Stock Average dropped over 2% on Monday, influenced by weakening US stocks and a strengthening yen. The index lost 868 points, with semiconductor, automobile, and electronics shares leading the decline in a broad-based sell-off. The yen appreciated against the dollar after the US
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ID: ecc5a80f-6047-43bd-bb4e-7d7ea5e7c65a
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240311_28/
Date: March 11, 2024
Created: 2024/03/12 06:30
Updated: 2025/12/08 16:35
Last Read: 2024/03/12 10:04