【Fujitomi】Tokyo Stock Exchange continues to fall as yen strengthens, traders wary of the uptrend
The Nikkei average closed lower for the day, ending at 19,455.88 yen, down 65.71 yen (0.34%) from the previous week’s close. With the dollar/yen rate weakening in the currency market, selling focused on export-related stocks. In addition, the removal of the phrase “oppose protectionism” from the G20 finance ministers and central bank governors’ communiqué raised caution and led to a stronger yen. Political uncertainty in the U.S. and Japan, such as the Moritomo Gakuen school foundation issue in Osaka, were also in mind, and although the decline briefly exceeded 180 yen, U.S. bond yields started to rise and the dollar/yen stopped falling, leading to some buying back after the initial selling. The TOPIX also fell, closing at 1,563.42, down 2.43 points (0.16%) from the previous week’s close.
The trading value on the Tokyo Stock Exchange First Section was 2,000,396,000,000 yen, and turnover was 1,597,180,000 shares. The number of declining issues in the First Section was 862, advancing issues 991, and unchanged 156. Of the 33 industry groups in the First Section, 21 groups — including Securities & Commodities Exchange, Warehousing & Transportation, Insurance, Other Financials, Banks, and Steel — fell, while 12 groups — including Other Products, Food, Retail, and Electric & Gas — rose.
