Japanese stocks slide on yen strength – BBC News

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Japanese stocks slide on yen strength

Japanese flag at container terminalImage copyright
AFP

Japanese shares are falling in Tokyo, as a stronger yen weighs on exporting firms. The US dollar has fallen to below 110 yen.

Japan’s benchmark Nikkei 225 opened lower by 1.1%, or 186.73 points, at 16,769 points.

Shares of 202 companies are trading with losses, only 17 have gained.

Tech firms Sony and Panasonic saw their shares hit, and carmakers including Toyota, Nissan and Isuzu were also part of the loss making group.

Takata shares fell 3.3% fall at the open after US carmaker Ford said it would recall about 1.9 million vehicles in North America, which have been fitted with defective airbag inflators made by the company.

In Australia, the S&P ASX/200 index nudged down by 0.28% to 5,308 points.

South Korea’s Kospi index was flat at 1,981.81. Revised growth data released earlier on Thursday showed the economy expanded at an annual rate of 2.8% in the first quarter, compared with a previous estimate of 2.7%.