【Fujitomi】Nikkei Heavily Dismissing Yen Strength, Down for the Third Day in a Row
The Nikkei stock average fell for the first time in three days, closing at 19,686.84 yen, down 126.29 yen (0.64%) from the previous day. A firmer yen weighed on the index, limiting its upside. In the Tokyo foreign exchange market, the dollar-yen pair declined. With concerns over terrorism, political instability in the UK, and falling oil prices, the pound and commodity currencies fell, spreading to dollar-yen selling. At a concert venue in central Manchester, England, where a suicide bombing occurred, authorities found a large quantity of chemicals that can be used to make explosives at the suspect's home, and it was also found that he may have produced other explosives. Furthermore, North Korea, on the 26th, conducted a “random number broadcast” to convey codes to agents hidden abroad via Pyongyang Broadcasting, heightening geopolitical caution. Earlier this month, on the 14th and 21st, North Korea had previously held missile launch tests on Sundays, leading to heightened vigilance. Regarding last year’s presidential election and the Trump campaign’s connections to “Russia Gate,” detrimental information for Trump supporters has been accumulating by the day, and after the 30th, former FBI Director James Comey is scheduled to testify before the U.S. Senate Intelligence Committee, suggesting the dollar-yen may stay heavy for a while.
In the Tokyo stock market, ahead of the Tao Tsai Summit, selling to adjust positions was observed, and the Nikkei average fell further toward the close.
The TOPIX also fell for the first time in three days, closing at 1,569.42, down 9.00 points (0.57%) from the previous day. The First Section of the Tokyo Stock Exchange’s trading value was estimated at 2.1551 trillion yen, and the trading volume was 1.56361 billion shares. The number of declining issues on the First Section was 1,538, rising issues 379, and unchanged 99.
