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Japan stocks tumble over five percent
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IANS | 09 Feb, 2016
Japan shares ended the trading Tuesday sharply lower, with benchmark
Nikkei stocks index plunging over five percent on the yen's rapid
appreciation to a about 15-month high.
The 225-issue Nikkei Stock Average plunged 918.86 points, or 5.40 percent, from Monday to 16,085.44, Xinhua reported.
The
broader Topix index of all First Section issues on the Tokyo Stock
Exchange was down 76.08 points, or 5.51 percent, to 1,304.33.
The
Japanese yen was quoted at 114.6 yen versus the US dollar, compared
with lower 117 yen level on Monday. Yen's appreciation always triggers
selling of export-oriented issues.
Traders said the dollar's
slide was sparked by selloffs in the US and Europe, with the yen often a
preferred choice as a safe currency haven in times of economic
turbulence or severe market jitters, which drives its value up versus
its major counterparts.
The sharp plunge in the Japanese stocks
market followed weak performances in the overnight European and US
stocks market amid fading outlook of interest hike by the US Federal
Reserve and declines in oil prices.
The day's turnover was about 3,055.6 billion yen ($26.68 billion).
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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